The United Nations Office at Geneva
Multimedia Newsroom
Press Conferences | UNCTAD
Press conference UNCTAD: Developing countries crippled by debt need urgent relief, stresses UN trade agency
Developing countries crippled by debt need urgent relief, stresses UN trade agency
Far too little constructive support has been provided to help developing countries escape from crippling debt related to the COVID-19 outbreak, leading UN economists said on Thursday.
According to the United Nations Conference on Trade and Development (UNCTAD), urgent measures are needed to head off what it has called a “looming debt disaster” in emerging economies.
It’s calling on international investors and creditors to agree to write off debt relief to developing countries.
Some welcome steps have already been taken, including the decision on 13 April by the International Monetary Fund (IMF) to cancel debt repayments due by the 25 poorest developing economies for the next six months.
This alone was estimated at around $215 million.
That IMF decision was followed two days later by the leaders of the Group of 20 leading economies (or G20), who announced the suspension of debt paybacks for 73 of the world’s poorest countries from May to the end of the year.
Welcoming these measures, UNCTAD economist Richard Kozul-Wright said that they would free up sorely needed resources which are needed to respond to the pandemic, and which are normally dedicated to paying off external debt.
But he insisted that more “systematic, transparent and coordinated measures towards writing off developing country debt across the board” are urgently needed.
A trillion dollar write-off would be closer to the figure needed to prevent economic disaster across the developing world, Mr Kozul-Wright added.
Similar Stories
1
1
1
Press Conferences | UNICEF , UNCTAD , UNFPA , WHO , WFP , IOM , OHCHR , UNHCR
UNICEF: Impact of the US-Israel-Iran escalation on supply operations; UNCTAD: Strait of Hormuz Economic impacts of disruptions; UNFPA: Urgent need for protection of maternal health for women and girls in Sudan and Lebanon; WHO: Restoration of vital health-care services in Lebanon urgently needs sustained ceasefire and peace; WFP: Global funding shortfall; IOM: Cross-border Ebola Response in the DRC; OHCHR: Nicaragua death in custody, Specialised judicial units in Haiti; UNHCR: Rohingya refugees in Bangladesh
2
1
2
Press Conferences , Edited News | WMO
El Niño confirmed, extreme weather events will be more intense, says WMO
The UN urged all countries on Tuesday to bolster early warning systems after confirming the onset of El Niño, warning that the Pacific Ocean-warming phenomenon will bring above-average temperatures “nearly everywhere” and fuel more extreme weather.
1
1
1
Press Conferences | ILO , WFP , WHO , UNICEF
UN Geneva press briefing chaired by Rolando Gómez, Chief, Press and External Relations Section, UN Information Service, with the participation of representatives of the WHO, UNICEF, WFP and ILO.
1
1
1
Press Conferences | OHCHR
Peggy Hicks, Director of Thematic and Special Procedures Division, speaks.
1
1
1
Press Conferences | UNOG , WHO , UNRWA , UNHCR , OHCHR , UN WOMEN , IFRC , WMO
UN Geneva press briefing chaired by Rolando Gómez, Chief, Press and External Relations Section, UN Information Service, with the participation of representatives of the WHO, UNRWA, UNHCR, OHCHR, UN Women, IFRC and the WMO.
1
1
1
Press Conferences | IFRC , OCHA , UNCTAD , UNHCR , WHO
UNCTAD: Trade and Development Foresights 2026, update on Trade and Development Report 2025; WHO: Update on WHA and Ebola in Congo and Uganda; UNHCR: Ebola - concerns for displaced people and humanitarian operations; IFRC: Red Cross response to the Ebola outbreak
1
1
1
Press Conferences | OCHA , UNICEF , UNOG , WFP , FAO , WHO , UNEP , ILO , WMO
UN Geneva press briefing chaired by Rolando Gómez, Chief, Press and External Relations Section, UN Information Service, with the participation of representatives of OCHA, UNICEF, WFP, FAO, WHO, UNEP, ILO and WMO.
1
1
2
Press Conferences | UN WOMEN , UNDP , UNEP , UNICEF , WHO
UN WOMEN: Ukraine war deadlier for women and girls; UNICEF: West Bank and East Jerusalem: children targeted by violence and dismantling of systems and services; WHO: Gaza, medical rehabilitation needs; UNDP: South Sudan: fragility, elections, peacebuilding, justice and resilience; UNEP: Sand and Sustainability report.
1
1
1
Press Conferences | UNEP
Launch of the United Nations Environment Programme’s report: ‘2026 Sand and Sustainability: An Essential Resource for Nature and Development’.
1
1
1
Press Conferences | UN WOMEN , WFP , WHO
UN Women - The situation of women and girls in Lebanon; WFP - Deteriorating humanitarian conditions in Somalia; WHO - Hantavirus interim update
1
1
1
Press Conferences | ILO , UNHCR , IFRC , WHO , OHCHR , UNECE
ILO: Skills and Lifelong Learning report; UNHCR, IFRC: Lebanon, rise in humanitarian needs ; WHO: Cruise Ship Hantavirus; OHCHR: Mali, Civilians Impacted Amid Clashes; UNECE: Call for Water Cooperation in Central Africa; IFRC: Call for Protection of Humanitarian Personnel on the Anniversary of the IFRC founding
1
7
1
1
Press Conferences | ITU , UNDRR
Doreen Bogdan-Martin, ITU Secretary-General and the Special Representative of the UN Secretary-General for Disaster Risk Reduction and head of the UN Office for Disaster Risk Reduction, Kamal Kishore, will brief the media on the launch a joint report titled "When Digital Systems Fail: The Hidden Risks of our Digital World."