Financial system must evolve in ‘giant leap towards global justice’: Guterres

Developing countries are buckling under high debt and exorbitant borrowing costs, that prevent them from reviving their economies, UN chief António Guterres said on Thursday.

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Financial system must evolve in ‘giant leap towards global justice’: Guterres

World News in Brief: UNCTAD development finance call, Nepal quake update, religious freedom in Nicaragua

07 Nov 2023

The world risks failing the 880 million people living the world’s Least Developed Countries if soaring debt and a chronic lack of international funds prevent them from getting ahead.

UN chief urges debt relief extension for middle-income countries

17 Jun 2021

Innovative measures to address debt are required to help the world’s more than 100 middle-income countries expand their economies and exit the COVID-19 pandemic, UN Secretary-General António Guterres told the General Assembly on Thursday.

‘Crushing’ debt crisis spells development disaster for billions: UN chief

12 Jul 2023

Half of humanity lives in countries that are forced to spend more on servicing their debt than on health and education, which is nothing less than a development disaster, UN Secretary-General António Guterres said on Wednesday.