Least Developed Countries Report. Crisis-Resilient Development Finance

Least Developed Countries Report. Crisis-Resilient Development Finance

The United Nations Conference on Trade and Development (UNCTAD) presented a new report “Least Developed Countries Report. Crisis-resilient development finance".

The organization estimates that the ratio of external debt to GDP of least developed countries (LDCs) rose from 48.5% in 2019 to 55.4% in 2022 (the highest since 2005).

The COVID-19 pandemic, the energy crisis, and increased geopolitical tensions have led to a reduction in the fiscal space of LDCs and, as a result, limited the possibilities for sustainable socio-economic development.

The authors call for expanded support for LDCs from international financial institutions and increased transparency and efficiency of the public debt management mechanism.

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