trade and development

Development funding and trade transparency needed, to stop COVID-19 dividing the world

The pandemic has redefined the world economy in ways that will deepen inequality and can only be reversed if a global transformation in attitudes towards trade and development allows the whole world to recover together, the UN trade body UNCTAD said, in a report published on Thursday. 

Illicit capital robbing Africa and its people of their future: UN trade and development chief

Every year, an estimated $88.6 billion, which is equivalent to 3.7% of Africa’s GDP, leaves the continent in the form of illicit capital, according to UN trade and development agency UNCTAD’s Economic Development in Africa Report 2020, launched on Monday.

News in Brief 16 June 2020

  • Trade in many developing countries projected to ‘nosedive’, warns UNCTAD
  • Syrian refugees resort to ever more desperate measures to resist pandemic impact
  • Action needed now to avoid ‘hunger pandemic’ from COVID-19 in Latin America
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Low-skilled workers, developing countries at risk of steep economic decline as coronavirus advances

The global economy could shrink by up to one per cent in 2020 due to the COVID-19 pandemic, and may contract even further if restrictions on economic activities are extended without adequate fiscal responses, according to analysis released today by the UN Department of Economic and Social Affairs (DESA).

Bulk of developing world faces hardship, as virus exacerbates economic frailty 

Six billion people – that’s the bulk of the developing world – look set to suffer from the economic impact of the new coronavirus pandemic, the UN trade and development organization, UNCTAD, says. 

In an interview with UN News’s Daniel Johnson by Skype, UNCTAD economist Richard Kozul-Wright outlines how a radical plan worth a staggering $2.5 trillion, could help avoid some of the worst financial consequences of COVID-19.

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$2.5 trillion COVID-19 rescue package needed for world’s emerging economies

The economic fallout from COVID-19 is likely to get “much worse” before it gets better for some six billion people living in developing economies, the UN said on Monday, in an appeal for a $2.5 trillion rescue package to boost their resilience to further hardship. 

UN study projects $32 billion loss for UK post no-deal Brexit

The United Kingdom (UK) risks losing up to 14 per cent of its exports to the European Union (EU) in a so-called “no-deal” Brexit, according to a new study by the UN Conference on Trade, Investment and Development (UNCTAD).

Migrant countries should do more to sustain livelihoods in source nations: UNCTAD

Migration “is a force for good” for host nations, but Mukhisa Kituyi, Secretary-General of UNCTAD, tells UN News what Ethiopia and Rwanda have done to offer migrants economic opportunities closer to home. The UNCTAD chief also reflects on the passing of former UN Secretary-General Kofi Annan, whom he describes as an inspiration for his moral leadership.

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News in Brief 26 September 2018

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Not so fast on fracking, UN agency tells developing countries

The hydraulic extraction of natural gas — or "fracking" — produces cleaner energy than oil and coal, but it’s not necessarily in the best interests of the world’s poorest countries, says a new UNCTAD report, which describes natural gas as a “bridge fuel” for States aiming to move to renewable energy sources. Janvier Nkurunziza, UNCTAD’s Chief of Commodity Research and Analysis, talked to Daniel Johnson about the report’s findings.

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