The Human Development Report, released yesterday by United Nations Development Programme, also cautioned that unless pro-poor trade reforms are pursued, the Millennium Development Goals, which include halving absolute poverty by 2015, would be missed by a wide margin.
The report called for swift and dramatic changes in global aid, trade and security policies to fulfil the promises made by the international committee to the poor. The world has resources, knowledge and technology to end extreme poverty but needs political will to implement them, it noted.
The Human Development Report was released even as diplomats were debating over the language of the declaration to be adopted at the coming summit. Some were even trying to put the development agenda on the backburner.
'The Millennium Declaration was a solemn pledge to free our fellow men, women and children from the abject and dehumanising conditions of extreme poverty,' Kevin Watkins, the report's lead author and director of UNDP's Human Development Report Office, said in an impassioned appeal.
'The MDGs are a promissory note, written by 189 governments to the world's poor people. That note falls due in less than 10 years time, and without the required investment and political will, it will come back stamped 'insufficient funds,' the report said.
The report was delivered to all member states, to be forwarded to their leaders who will be visiting New York to attend the UN General Assembly summit from September 14-16.
Giving dismal figures, the report points outthat on the basis of current trends, 827 million people will be living in extreme poverty with less than a dollar a day by 2015.
UN Secretary-General
The MDGs include pledges to halve extreme poverty, reduce child deaths by two-thirds and achieve universal primary education by 2015. The summit is expected to take stock of the progress made in this direction.
The report pointed out that inequalities within countries also weakened the link between economic growth and poverty reduction adding that economic growth alone will be insufficient to enable most countries to achieve the goal of halving poverty.
It said donor countries have failed to act on their commitment to a 'development agenda' at the World Trade Organization.
The Doha Round has so far delivered little of substance and a failure to reform trade rules at the ministerial meeting planned for December in Hong Kong would have grave consequences for the MDGs and for the entire multilateral trading system, the report said.