As the year 2022 drew to an end, the United Nations Conference on Trade and Development (UNCTAD) warned, “Developing countries face ‘impossible trade-off’ on debt”, that spiralling debt in low and middle-income countries (LMICs) has compromised their chances of sustainable development. In early December, an opinion piece in The New York
Tag: UNCTAD
Developing nations face impossible trade-off on debt: UN
Spiralling debt in low and middle-income countries has compromised their chances of sustainable development, the UN trade facilitation agency has said.Rebeca Grynspan, the head of UNCTAD, said between 70 and 85 percent of the debt that emerging and low-income countries are responsible for is in a foreign currency.This has left