Ukraine

The world is on the brink of a “perfect storm” of crises, warns UN Secretary-General António Guterres. Dire consequences of the war on global food, energy and financial markets could upend billions of lives.

UNCTAD alerts global economic growth will decrease to 2.6% from 3.6% for 2022 and that developing countries will need $310 billion to meet their external public debt service requirements this year.

The conflict could widen the $3.6 trillion annual gap in financing needed to achieve sustainable development goals and worsen the debt burden in many developing countries.