On The Foreign Scene
UN Conference on Trade and Development (UNCTAD) is rallying global action to help the least developed countries (LDC) build resilience to economic shocks and safeguard their hard-won development gains.
UNCTAD’s Secretary-General Rebeca Grynspan and Deputy Secretary-General Pedro Manuel Moreno led the organization’s delegation to the fifth UN conference on LDCs (LDC5) taking place in Doha, Qatar from 5 to 9 March. They are making a strong call to accelerate economic development in LDCs in the next decade.
UNCTAD urges tackling debt, investment and productive capacities
UNCTAD is calling for effective debt relief and international support to build stronger productive capacities as the basis for economic and export diversification and a just, balanced and sustainable low-carbon transition in these nations.
LDCs are the most vulnerable economies in the world, accounting for only 1.3% of global gross domestic product and trading under 1% of world merchandise exports, even though they represent 14% of the world population.
The world’s 46 LDCs, home to about 1.1 billion people , has 33 of the countries from Africa, nine in Asia, three in Oceania, and one in the Americas.
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