U.N. trade agency adopts sweeping mandate tackling global debt crisis
UNCTAD also launched a new platform to stabilize borrower nations and mobilize capital for a costly green transition.
U.N. Trade and Development (UNCTAD)
Formerly known as UNCTAD, the U.N. agency says it aims to support developing countries in accessing the benefits of a globalized economy more fairly and effectively and in dealing with the potential drawbacks of greater economic integration. It provides analysis, facilitates consensus-building, and offers technical assistance to help nations use trade, investment, finance, and technology as vehicles for inclusive and sustainable development.
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U.N. launches 'Sevilla Forum' to tackle $102 trillion global debt
António Guterres highlights 'impossible choice' for debtor nations; new platform for technical reform, not negotiation.
U.N. trade conference confronts global FDI slump, budget crisis
Operationally, UNCTAD, like other organizations, must navigate economic headwinds and severe budget limitations.
U.N. in ‘race to bankruptcy’ as its 2026 budget is slashed to $3.2 billion
The U.N. chief stressed the lack of reliable funding now threatens the U.N.'s core mandate and its 'regular functioning.'
Global trade shaken by 'systemic uncertainty,' UNCTAD report warns
In a growing divide, advanced economies, which often export high-value, low-volume goods, were better positioned.
Panama Canal's future a point of contention at U.N. Security Council
The U.S. warns of Beijing’s growing influence, while China accuses Washington of fabricating a pretext to seize the canal.
Global public debt soars to record $97 trillion, straining budgets
Developing nations' 30% share of global public debt in 2023, particularly in Asia and Oceania, rose from 16% in 2010.
U.N. trade body forecasts sluggish global economy as inequality widens
A new report says the world's marketplace appears to be growing at a modest rate that's defined as a global recession.
Developing nations forecast to lose $800B from debt and slowdown
UNCTAD expects global growth in 2023 to drop to 2.1%, but only if financial fallout from higher interest rates is contained.
U.N. warns world 'on edge of recession'
The world is on the brink of recession, UNCTAD said in projecting growth slowing to 2.2% in 2023 with cascading crises of debt, health and climate.
WTO clinches trade deals deep into overtime
WTO's first ministerial conference in four and a half years overcame bitter divisions to reach consensus on an 'unprecedented' six-item package deal.
WTO tackles food, vaccines, fishing subsidies
Hunger, vaccine patents and fishing subsidies top the agenda as the global trade body holds its first ministerial conference in four and a half years.
New talks set for U.N. high seas treaty proposal
Proponents of a U.N. global high seas treaty for protecting biodiversity are set to resume talks in August with the goal of approving it as soon as possible.
E-commerce rises to 19% of all retail purchases
Global online sales among seven major economies jumped to almost one-fifth of all retail sales last year during the pandemic, UNCTAD reported.
China overtakes U.S. in new foreign investment
China surpassed the United States as the world's top recipient of foreign direct investment with inflows of US$163 billion in 2020, new UNCTAD figures show.
UNCTAD shows 49% foreign investments drop
Global foreign direct investment plummeted by 49% during the first half of 2020 compared with a year ago due to the pandemic, UNCTAD reported.