The UN Secretary-General this Saturday denounced “predatory interest rates” applied by rich countries to poor states and the explosion in energy prices during the opening of the Least Developed Countries Summit in Doha.
António Guterres called on rich countries to provide some $500 billion (about €470 million) annually to help the world’s poorest countries, “trapped in vicious circles that make development difficult, if not impossible.” to make”.
“Economic development is difficult when countries lack resources, are burdened by debt and still struggle with the historical injustice of an uneven response to Covid-19,” he said.
Poorer countries have repeatedly denounced the unfair distribution of vaccines concentrated in Europe and North America.
“Tackling a climate catastrophe that caused nothing is impossible when the cost of capital explodes” and financial aid is “just a drop in the ocean,” Guterres added.
Leaders and representatives from 33 African countries, 12 Asia-Pacific countries and Haiti have gathered five decades after the United Nations (UN) created the Least Developed Countries (LDC) category to provide special international support to the most vulnerable and underprivileged members.
An action plan for these countries was adopted at the UN General Assembly last year.
However, big financial promises are not expected at the summit in Doha, the capital of Qatar, which has been postponed twice due to the covid-19 pandemic.
Afghanistan and Burma are not present, as their governments are not recognized by UN members.
Source: DN
