António Guterres highlights 'impossible choice' for debtor nations; new platform for technical reform, not negotiation.
GENEVA (AN) — The U.N. formally launched the Sevilla Forum on Debt, a high-level Spanish-led initiative intended to develop new mechanisms for tackling the acute debt crisis crippling developing countries.
Officials announced its launch on Wednesday at the 16th U.N. Conference on Trade and Development, a quadrennial summit held against a backdrop of severe global economic deterioration and fragmented multilateralism.
The shift cements Asia’s position as the world's leading innovation hub, led by China, Japan, and South Korea.
The declaration is a political mandate for countries to help more people gain basic health care, housing and education.
The outcome could test the stability of global trading and compound the crisis at the World Trade Organization.
UNCTAD also launched a new platform to stabilize borrower nations and mobilize capital for a costly green transition.
The resolution establishes a temporary International Stabilization Force and a civilian transitional administration.
Since 1946, a woman has never been chosen for the top job, and four of the nine U.N. chiefs have been Europeans.
The U.N. Human Rights Council called on independent experts to investigate killings and other violations in el-Fasher.
Some 119 nations have a coordinated system to warn about impending natural dangers, up from 56 nations a decade ago.
