Global Impact of war in Ukraine on food, energy and finance systems - BRIEF NO.2
A war is always a human tragedy, and the war in Ukraine is no exception. The ripple effects of the conflict are extending human suffering far beyond its borders. The war, in all its dimensions, has exacerbated a global cost-of-living crisis unseen in at least a generation, compromising lives, livelihoods, and our aspirations for a better world by 2030.
After two years of fighting COVID-19, the world economy has been left in a fragile state. Today, 60 per cent of workers have lower real incomes than before the pandemic; 60 per cent of the poorest countries are in debt distress or at high risk of it; developing countries miss $1.2 trillion per year to fill the social protection gap, and $4.3 trillion is needed per year - more money than ever before - to meet the Sustainable Development Goals (SDGs).