Barriers to Development and Prosperity in the Global South and How the G7 Can Help

Development challenges in the Global South are linked to long-standing concerns about poverty and inequality, food insecurity, debt sustainability, climate finance gaps, and the triple burden of nutrition (undernutrition, overnutrition, and micronutrient deficiency). These concerns are the symptoms of deeper-rooted problems, which hinder achieving shared and sustainable prosperity. This paper proposes a new role for the Group of Seven (G7) in addressing long-term development issues in the Global South while restoring credible global governance. Vicious circles of poverty and vulnerability, food and nutritional insecurity, and debt distress continue to exist and worsen. The lack of financing from public and private sources for development remains pronounced, especially in climate change mitigation and adaptation in the Global South. While governments in the Global South have a crucial role in addressing institutional governance in the region, the G7 can play a key role in fostering a facilitatory policy environment at the global level.

Original Document Source: T7 Website