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
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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.

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Guterres hails 60 years of UN trade and development action

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The right to development is inextricably linked with trade which the world’s poorest countries - now “mired in debt” through no fault of their own - have every right to pursue on much fairer terms, UN chief António Guterres insisted on Wednesday.