Economic Development
Spiralling debt in low and middle-income countries has compromised their chances of sustainable development, the head of UN trade facilitation agency UNCTAD has warned.
Speaking in Geneva, Rebeca Grynspan saidthat between 70 and 85 per cent of the debt that emerging and low-income countries are responsible for, is in a foreign currency.
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Amid cascading crises, debt burdens are becoming unbearable & unsustainable for developing countries.
@UNCTAD chief @RGrynspan: “Debt cannot become an obstacle for achieving the 2030 Agenda and the climate transition the world desperately needs.”
UNCTAD, the UN trade & development body
UNCTAD
Read the full article at: https://news.un.org/en/story/2022/12/1131432