That’s the message from the UN’s trade and development body UNCTAD, which called on Tuesday for urgent reform of the international financial system to support the world’s 46 Least Developed Countries. In line with the Sustainable Development Goals, or SDGs, these most vulnerable economies urgently require foreign investment to add value to their economic output,…
The UN Conference on Trade and Development (UNCTAD) reported that world economic growth is expected to decelerate from three per cent last year to 2.4 per cent through 2023, with limited signs of a rebound in 2024. These figures underscore the urgent need for reform of the global financial system, more practical policies to…
According to the UN Conference on Trade and Development (UNCTAD), this represents between $1,179 and $1,383 per person, per year. The study factors in 50 SDG indicators across 90 countries, covering three quarters of the global population. For the world’s 48 developing economies, the shortfall is estimated at $337 billion annually, if they are to…
In a new report, UNCTAD shows that Africa can become a major exporter of higher value-added goods, creating growth and jobs, and fuelling a rise in productivity and wages. Launching the report in Nairobi, UNCTAD Secretary-General Rebeca Grynspan insisted it would offer a better future for the continent’s economies. Diversifying trade “builds resilience and enhances innovation”,…
That’s according to the UN Trade and Development body UNCTAD’s Trade and Environment Review 2023, published on Monday, which analyses the world’s $3-6 billion ocean economy, and assesses how human activity and multiple global crises have significantly impacted sectors like fishing, seafood, shipping and coastal tourism. The report, presented at the 3rd UN Trade Forum in Geneva, calls for…
In a new report, UNCTAD projects that annual growth across large parts of the global economy will be below pre-pandemic levels in 2023. High interest rates combined with soaring debt levels will add to the “crushing” effect on developing countries over the coming years, to the tune of at least $800 billion. The UN body…
