The United Nations' goal of cutting hunger and poverty by half by 2015 from 1990 levels is unlikely to be achieved as the global economic and financial crisis has dealt a big blow to the growth of developing countries, a UN development agency has said.
"Almost all developing countries have experienced a sharp slowdown of economic growth since mid-2008, and many have also slipped into recession," the UN Conference on Trade and Development (UNCTAD) said in its trade development report for 2009.
While Asian and Latin American countries have shown relatively strong resistance to the crisis, many East European countries faced strong pressure to devalue their currencies and difficulties in refinancing external debts in the short term, the report said.
It said that economies in Africa are likely to see a sharp slowdown in output in 2009, and per capita gross domestic product will actually fall particularly in sub-Saharan Africa.
"This will render it virtually impossible to achieve the United Nations Millennium Development Goals," it said.
The attainability of the 2000-2015 goals, which include halving extreme poverty, halting the spread of HIV/AIDS and providing universal education, among other things, was considered heavily dependent on the trend in sub-Saharan Africa.
