Prominent global economist Jeffrey Sachs said that the world is currently at a time of deep and multiple crises that are intensifying rapidly and becoming more severe, with no fundamental work being done to solve them.
He made these remarks during the Al Masry Al Youm Economic Forum, held on Sunday under the patronage of the Egyptian Prime Minister Mostafa Madbouly.
“The crises we are currently witnessing are deep-rooted and severe. One of them is the environmental crisis in Egypt, which will undoubtedly be significantly impacted in the coming decade. We are facing global crises, climate change, biodiversity loss, and severe pollution. Egypt will be greatly affected by these crises and will bear a significant cost in addressing climate change, rising temperatures, and drought,” Sachs explained.
He continued, “The Nile may decrease by 25 percent over the next decade, and the Delta will suffer in all aspects. This does not require mere strategies but substantial investments, and the International Monetary Fund will not provide solutions to these problems.”
Egypt is particularly vulnerable to climate change due to its arid climate, dependence on the Nile River, and low-lying coastal areas.
Sea-level rise poses a significant threat to coastal cities like Alexandria, potentially leading to flooding and erosion.
Sachs pointed out that climate issues are prevalent worldwide, with this year being one of the hottest on record.
Brazil, for instance, experienced a widespread dengue fever outbreak.
A warming world
Globally, the past few years have witnessed a dramatic increase in the frequency and intensity of climate change-related events.
Several countries have experienced record-breaking heat waves in recent years, including the US, particularly in the western and southern regions in addition to several European countries, such as France, Spain, and Italy. These heat waves have contributed to wildfires and heat-related deaths.
Heavy rainfall has caused devastating floods in various regions, forcing millions from their homes and causing massive economic loss.
Edited translation from Al-Masry Al-Youm
