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Pandemic ‘rolled back’ sustainable development funding for weak economies: UNCTAD

Financial assistance to the world’s 83 weakest economies fell by 15 per cent in 2020, to $35 billion as a direct result of the COVID-19 pandemic, UN trade and development experts UNCTAD said on Monday.

Suez Canal cargo ship is afloat - but it’s not plain sailing for global economy

The gigantic cargo ship that ran aground and blocked the Suez Canal last week is afloat once again after a Herculean salvage operation, but the damage to global trade will take months to fix.

That’s the assessment of maritime expert Jan Hoffman at UN trade and development agency UNCTAD, who also explains why the cost of sending freight around the world has increased dramatically during the COVID-19 pandemic.

Here he is, talking to UN News’s Daniel Johnson. 

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A few ‘green shoots’, but future of global trade remains deeply uncertain

Although global trade is making a frail recovery, the outlook remains uncertain, UN trade and development body UNCTAD said on Wednesday, in announcing its latest COVID-era update

Mauritius oil spill highlights importance of global maritime laws: UN trade body

The devastating oil spill off the east coast of Mauritius has highlighted the need for global adoption of international legislation that govern the seas and protect small island states and their vulnerable marine ecosystems against ship pollution, UN trade body UNCTAD has stated. 

Uganda looks online for answers to COVID economic crisis

From banking, to food delivery, and taxi bookings, Uganda is rapidly becoming accustomed to many of the online tools that are commonplace in developed economies, and which don’t rely on face-to-face interactions. The UN is supporting this shift, as a way to help developing economies recover from the global economic crisis brought about by the COVID-19 pandemic.

UN highlights urgent need to tackle impact of likely electric car battery production boom

Demand for raw materials used in the production of electric car batteries is set to soar, prompting the UN trade body, UNCTAD, to call for the social and environmental impacts of the extraction of raw materials, which include human rights abuses, to be urgently addressed.

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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10'19"

Coronavirus COVID-19: don’t panic, says top UN economist

As deaths continue to rise from the coronavirus outbreak, its economic consequences are becoming clearer, too.

In an interview with UN News’s Daniel Johnson, Pamela Coke-Hamilton from the UN Conference on Trade and Development, UNCTAD, highlights how the challenge posed by the disease to China’s key role in global manufacturing, will likely affect rich and poor countries alike.

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6'56"

Climate crisis ‘affecting quality of life and fuelling discontent’

The climate crisis, as well as persistently high inequalities, and rising levels of food insecurity and undernourishment, is affecting the quality of life in many societies and fuelling discontent, the UN warned on Thursday, on the publication of the 2020 World Economic Situation Report (WESP).

UN calls for shipping ‘propulsion revolution’ to avoid ‘environmental disaster’

If emissions from the maritime industry are not cut, we are headed for “an environmental disaster”, Isabelle Durant, the deputy head of the UN trade body, UNCTAD, told the Global Maritime Forum summit on Wednesday.