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UN claims 2.5 trillion for poor countries

2020-03-30T17:09:37.768Z


The UNCTAD notably proposes to extend the IMF's special drawing rights in order to help developing countries, where two thirds of the world's population live.


Faced with a shock of unprecedented magnitude, even more marked than the 2008 crisis, the United Nations calls for broad mobilization. The Conference on Trade and Development (UNCTAD) estimates the financing needs intended for the developing countries, where two thirds of the world population live, at 2,500 billion dollars.

Read also: The UN warns of the ineffectiveness of aid to the poorest countries

The negative impact, underlines the report published Monday, materializes in the flight of capital, the strong depreciation of the currencies and the prices of raw materials in clear fall. Between February and March, $ 59 billion left emerging countries, more than double compared to the financial crisis. Emerging currencies lost on average between 5% and 25%, around 20% for the Brazilian real, the Mexican and Colombian peso as well as the South African rand, which fell Monday to its historic low following the downgrade sovereign by Moody's agency. While commodity prices show an overall decline of 37

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Source: lefigaro

All news articles on 2020-03-30

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