The world is facing a health financing emergency as global health investment risks falling to its lowest level in a decade, the World Health Organization (WHO) warned.

Dr. Kalipso Chalkidou, WHO Director for Health Financing and Economics, said deep spending cuts by wealthy nations are disrupting both international aid and national health systems.

Speaking at a Geneva press briefing, she highlighted recent decisions by the U.S., European governments, and EU bodies to freeze or reduce health aid.

WHO forecasts show global health investment could drop by 40% this year, falling from over $25 billion in 2023 to an estimated $15 billion.

“This funding shortage is creating a health finance emergency in many developing countries—particularly in sub-Saharan Africa,” Dr. Chalkidou said. Many nations rely heavily on aid, with U.S.-financed programs previously accounting for up to 30% of health spending in countries like Malawi and 25% in Mozambique and Zimbabwe.

A WHO survey found disruptions to health services in some countries are now at levels “not seen since the peak of COVID-19.” The situation is worsened by soaring debt burdens, with some countries spending twice as much on debt servicing as on health.

WHO is urging countries to cut aid dependency, improve tax revenues - including health taxes on tobacco and alcohol - and work with multilateral banks for low-interest loans to fund health investments.

The issue will be addressed at the upcoming International Conference on Financing for Development in Seville, where WHO hopes leaders will make new funding commitments.

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