News

The pandemic has posed challenges but also created opportunities for workers and businesses producing and selling biodiversity-based goods and services.

A new UNCTAD report provides policy options for developing countries to harness new technological trends for their creative economies.

By Kweku Attafuah-Wadee, Lalen Lleander and Henrique Pacini, UNCTAD Economists

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.

The world’s poorest nations face many obstacles, including soaring debt, export marginalization, energy poverty and climate vulnerability.

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.

By Paul Akiwumi, Director for Africa and Least Developed Countries, UNCTAD

UNCTAD’s rapid assessment of the war’s impact on trade and development shows a rapidly worsening outlook for the world economy, with the situation especially alarming for African and least developed countries.

Written by: By Paul Akiwumi, Article No. 86 [UNCTAD Transport and Trade Facilitation Newsletter N°93 - First Quarter 2022]