Richest 1% people have enough new wealth to end annual poverty 22 times over

Richest 1% people have enough new wealth to end annual poverty 22 times over

SHOBHA SHUKLA - CNS

Recent funding cuts on health, gender equality and human rights have given a sudden blow to a range of important services for the most underserved communities. But solution is not as simple as suggesting low- and middle-income countries to increase 'domestic investment on health and gender' or find 'innovative ways to financing'.

Global North nations have plundered wealth and resources from the Global South. We need redistributive justice and a range of tax reforms keeping people in the Global South central. We need to reform global financial architecture using the foundation of development justice - so to fully fund gender equality and human right to health with equity and justice. Countries in the Global South should not be servicing debt and paying the rich nations but rather investing in delivering on all health, gender and other goals enshrined in SDGs.

The latest Oxfam report which was released at 4th UN Financing for Development meet in Seville, Spain, shows that since 2015 the top 1% people in the world have amassed US$ 33.9 Trillion in new wealth which is enough to end annual poverty 22 times over.

We need health responses to be fully funded, of course, but we also have to ensure that equity and justice guides us on how we use those resources so that we are able to first serve those farthest behind or most likely to be left behind.

It is not the absence of science-based tools that has failed the global south on responding to key health epidemics, be it infectious diseases or non-communicable diseases, but deep-rooted inequities and injustices that plague our so-called world order.

If we are to deliver on promises enshrined in SDG3 related to HIV and TB and other health issues, we must strengthen competencies and capacities in the Global South - and reduce dependencies on the Global North.

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