Low trade vol­umes push global FDIs down by 13% to $1.52 tril­lion

Financial Nigeria Magazine - - Development -

The United Na­tions Con­fer­ence on Trade and De­vel­op­ment has an­nounced that global flows of for­eign di­rect in­vest­ment (FDI) fell by 13% in 2016 to an es­ti­mated $1.52 tril­lion, as global eco­nomic growth re­mained weak and world trade vol­umes posted anaemic gains.

“FDI re­cov­ery con­tin­ues along a bumpy road. Par­tic­u­larly of con­cern is the sharp drop-off in man­u­fac­tur­ing in­vest­ment projects, which play such an im­por­tant role in gen­er­at­ing badly needed pro­duc­tiv­ity im­prove­ments in de­vel­op­ing economies,” said Mukhisa Ki­tuyi, UNCTAD’s Sec­re­tary­Gen­eral.

FDI flows to Europe fell 29% to about $385 bil­lion, while there was mod­est growth in flows to North Amer­ica (6%). Slow­ing eco­nomic growth and fall­ing com­mod­ity prices weighed on FDI flows to de­vel­op­ing economies. In­flows to these economies fell 20% (to $600 bil­lion), but de­vel­op­ing economies con­tinue to com­prise half of the top 10 FDI host economies. also known as the Min­is­te­rial Dec­la­ra­tion on Universal Ac­cess to Im­mu­niza­tion. The en­dorse­ment – which en­tails a pledge to en­sure that ev­ery­one in Africa re­ceives the full ben­e­fits of im­mu­niza­tion – was made dur­ing the 28th African Union Sum­mit in Ad­dis Ababa, Ethiopia.

World Health Or­gan­i­sa­tion said one in five chil­dren in Africa still does not re­ceive ba­sic life-sav­ing vac­cines and, as a re­sult, vac­cine-pre­ventable dis­eases con­tinue to claim too many lives. Measles alone ac­counts for ap­prox­i­mately 61,000 pre­ventable deaths in the African re­gion every year. De­spite such dire sta­tis­tics, fewer than 15 African coun­tries fund more than 50% of their na­tional im­mu­niza­tion pro­grammes.

The Ad­dis Dec­la­ra­tion on Im­mu­niza­tion calls for coun­tries to in­crease po­lit­i­cal and fi­nan­cial in­vest­ments in their im­mu­niza­tion pro­grammes. It in­cludes 10 com­mit­ments, in­clud­ing in­creas­ing vac­cine-re­lated fund­ing, strength­en­ing sup­ply chains and de­liv­ery sys­tems, and mak­ing universal ac­cess to vac­cines a corner­stone of health and de­vel­op­ment ef­forts.

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