On April 13, the United Nations Conference on Trade and Development (UNCTAD) predicted in a report released on the 12th that raising interest rates will cause developing countries to lose more than US$800 billion in income in the next few years.
UNCTAD has warned that developing countries are struggling as financial turmoil mounts and global growth slows.
The United Nations Conference on Trade and Development predicts that the growth of global GDP in 2023 will be only 2.1%, and the economic growth rate in most parts of the world will be lower than the performance before the new crown epidemic.
UNCTAD has called for a bold agenda to support developing countries, including sweeping reforms of the global debt architecture, more liquidity and sounder financial regulations.