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class="navbar-nav ml-auto"> <li class="nav-item menu-item"> <a class="nav-link item" href="/about">About <i class="fa-solid fa-angles-right fa-xs" aria-hidden="true"></i> </a> <div class="menu_link_content"><div class="megamenu_container"><div class="row"><div class="megamenu_content p-3"><div class="row"><div class="col"><h4>We help developing countries benefit from the global economy more fairly and effectively, providing data and analysis, facilitating consensus-building and offering technical assistance on issues related to trade and development.</h4></div></div><div class="row"><div class="col col-7 left_column"><ul class="visual_list"><li><div><div><a href="/about/office-of-the-secretary-general"><img src="/sites/default/files/inline-images/2024-06-10_sg-grynspan_557x557.jpg" alt="Rebeca Grynspan" width="557" height="557"></a></div><div><div><a href="/about/office-of-the-secretary-general">Secretary-General</a></div><div class="label"><a href="/about/office-of-the-secretary-general">Rebeca Grynspan</a></div></div></div></li><li><div><div><a href="/about/office-of-the-secretary-general/deputy-secretary-general"><img src="/sites/default/files/inline-images/UNCTAD-DSG_Pedro-Manuel-Moreno_official-photo_557x557_0.jpg" alt="Pedro Manuel-Moreno" width="557" height="557"></a></div><div><div><a href="/about/office-of-the-secretary-general/deputy-secretary-general">Deputy Secretary-General</a></div><div class="label"><a href="/about/office-of-the-secretary-general/deputy-secretary-general">Pedro Manuel Moreno</a></div></div></div></li><li><div><div><a href="/publication/unctad-15-outcome-spirit-speightstown-and-bridgetown-covenant"><img src="/sites/default/files/inline-images/ioss2022d1_143x143.jpg" alt="UNCTAD15" width="143" height="143"></a></div><div><div><a href="/publication/unctad-15-outcome-spirit-speightstown-and-bridgetown-covenant">UNCTAD15 outcome documents</a></div></div></div></li><li><div><div><a 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.right_column { border-left: 2px solid rgba(180, 189, 194, 1); } </style></div> </li> <li class="nav-item menu-item"> <a class="nav-link item" href="/topics">Topics <i class="fa-solid fa-angles-right fa-xs" aria-hidden="true"></i> </a> <div class="menu_link_content"><div class="megamenu_container"><div class="row"><div class="megamenu_content p-3"><div class="row"><div class="col"><h4>We help countries achieve inclusive, sustainable growth by transforming the ambitions of the Sustainable Development Goals into actions that deliver concrete results. Our work focuses on:</h4></div></div><div class="row"><div class="col-md-3"><ul><li><a href="/topic/africa" title="Africa"><span class="views-field views-field-title field-content">Africa</span></a></li><li><a href="/topic/commodities" title="Commodities"><span class="views-field views-field-title field-content">Commodities</span></a></li><li><a href="/Topic/Competition-and-Consumer-Protection" title="Competition and consumer protection"><span class="views-field views-field-title field-content">Competition and consumer protection</span></a></li><li><a href="/topic/debt-and-finance" title="Debt and development finance"><span class="views-field views-field-title field-content">Debt and development finance</span></a></li><li><a href="/topic/ecommerce-and-digital-economy" title="E-commerce and the digital economy"><span class="views-field views-field-title field-content">E-commerce and the digital economy</span></a></li><li><a href="/topic/enterprise-development" title="Enterprise development"><span class="views-field views-field-title field-content">Enterprise development</span></a></li></ul></div><div class="col-md-3"><ul><li><a href="/topic/gender-equality" title="Gender equality"><span class="views-field views-field-title field-content">Gender equality</span></a></li><li><a href="/topic/investment" title="Investment"><span class="views-field views-field-title field-content">Investment</span></a></li><li><a href="/topic/landlocked-developing-countries" title="Landlocked developing countries"><span class="views-field views-field-title field-content">Landlocked developing countries</span></a></li><li><a href="/topic/least-developed-countries" title="Least developed countries"><span class="views-field views-field-title field-content">Least developed countries</span></a></li><li><a href="/topic/macroeconomics" title="Macroeconomics"><span class="views-field views-field-title field-content">Macroeconomics</span></a></li></ul></div><div class="col-md-3"><ul><li><a href="/topic/palestinian-people" title="The Palestinian people"><span class="views-field views-field-title field-content">The Palestinian people</span></a></li><li><a href="/topic/science-technology-and-innovation" title="Science, technology and innovation"><span class="views-field views-field-title field-content">Science, technology and innovation</span></a></li><li><a href="/topic/small-island-developing-states" title="Small island developing states"><span class="views-field views-field-title field-content">Small island developing states</span></a></li><li><a href="/topic/south-south-cooperation" title="South-South cooperation"><span class="views-field views-field-title field-content">South-South cooperation</span></a></li><li><a href="/topic/trade-agreements" title="Trade agreements"><span class="views-field views-field-title field-content">Trade agreements</span></a></li></ul></div><div class="col-md-3"><ul><li><a href="/topic/trade-analysis" title="Trade analysis"><span class="views-field views-field-title field-content">Trade analysis</span></a></li><li><a href="/topic/trade-and-environment" title="Trade and environment"><span class="views-field views-field-title field-content">Trade and environment</span></a></li><li><a href="/topic/training-and-capacity-building" title="Training and capacity building"><span class="views-field views-field-title field-content">Training and capacity building</span></a></li><li><a href="/topic/transport-and-trade-logistics" title="Transport, logistics and trade facilitation"><span class="views-field views-field-title field-content">Transport, logistics and trade facilitation</span></a></li><li><a href="/topic/youth" title="Youth"><span class="views-field views-field-title field-content">Youth</span></a></li></ul></div></div></div></div></div></div> </li> <li class="nav-item menu-item"> <a class="nav-link item" href="/statistics">Statistics and data <i class="fa-solid fa-angles-right fa-xs" aria-hidden="true"></i> </a> <div class="menu_link_content"><div class="megamenu_container"><div class="row"><div class="megamenu_content p-3"><div class="row"><div class="col"><h4>We provide reliable and timely data and statistics to help countries better understand trade and development trends and design more effective economic, environmental and social policies.</h4></div></div><div class="row"><div class="col col-7 left_column"><h2>Featured</h2><ul><li><a href="/data-stories">Data stories</a></li><li><a href="https://unctadstat.unctad.org/" target="_blank">Data hub</a><ul><li><a href="https://unctadstat.unctad.org/datacentre/" target="_blank">UNCTADstat Data centre</a></li><li><a href="https://unctadstat.unctad.org/insights" target="_blank">Data insights</a></li><li><a href="https://unctadstat.unctad.org/EN/Nowcasts.html" target="_blank">Nowcasts</a></li><li><a href="https://unctadstat.unctad.org/CountryProfile/en-GB/index.html" target="_blank">Country profiles</a></li></ul></li></ul></div><div class="col 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class="breadcrumb-item"> <a href="/">Home</a> </li> <li class="breadcrumb-item active"> Global crisis </li> </ol> </nav> </div> <section class="row region region-title"> <div id="block-newyork-page-title" class="block block-core block-page-title-block" style=" background-color: inherit; " id="unctad-block-21894" > <h1 class="page-header"><span class="field field--name-title field--type-string field--label-hidden">Global crisis</span> </h1> </div> </section> <section class="row region region-top-bar"> <div data-drupal-messages-fallback class="hidden"></div> </section> </div> <div role="main" class="main-container container js-quickedit-main-content"> <div class="row"> <section class="main-content col col-sm-12 region-content" id="content" role="main"> <a id="main-content"></a> <div id="block-newyork-content" class="block block-system block-system-main-block" style=" background-color: inherit; " id="unctad-block-80958" > <article data-history-node-id="37072"> <div class="node__content"> <div class="full-width " background-color="" spacing="" height="528" background-image="url(/sites/default/files/2023-06/AdobeStock_550386447.jpg)" background-size="cover" background-position="center" > <div class="real-full-width"> <div class="block block-layout-builder block-inline-blockbasic" style=" background-color: inherit; " id="unctad-block-96650" > <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><style type="text/css">.path-global-crisis .page-header, .path-global-crisis .breadcrumb { display: none!important; } .gcrg-lp-layout { margin: auto; max-width: 1200px; } .gcrg-lp-hero-background { background: #054158 0% 0% no-repeat padding-box !important; mix-blend-mode: hard-light !important; opacity: 1 !important; } @media (max-width: 768px) { .gcrg-lp-hero-container { margin-right: 3rem !important; margin-left: 3rem !important; } } @media screen and (min-width: 991px) { .gcrg-lp-related-publications .view-content { display: flex; justify-content: center; gap: 33px; } } </style> </div> </div> <div class="gcrg-lp-hero-background block block-layout-builder block-inline-blockbasic" style=" background-color: inherit; " id="unctad-block-13516" > <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><div class="gcrg-lp-hero-container py-5" style="display: flex; align-items: center; margin: auto; max-width: 1200px;"> <div style="color: white; text-transform: uppercase;font: normal normal 600 40px/40px Roboto Condensed;">UN GLOBAL CRISIS RESPONSE GROUP on Food, Energy and Finance</div> </div> </div> </div> </div> </div> <div class="layout layout--twocol-section layout--twocol-section--67-33 gcrg-lp-layout my-5"> <div class="layout__region layout__region--first"> <div class="block block-layout-builder block-inline-blockbasic" style=" background-color: inherit; " id="unctad-block-53994" > <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p class="text-align-justify">In March 2022, UN Secretary-General António Guterres established the <strong><a href="https://news.un.org/pages/global-crisis-response-group/">UN Global Crisis Response Group on Food, Energy and Finance (GCRG)</a></strong> to respond to the unprecedented interconnected food, energy and finance crises in the world.</p> <p class="text-align-justify">Inflation, food insecurity, soaring energy and food prices, supply chain disruptions and mounting debt are among the pressing challenges added to a world recovering from the human and economic losses of the COVID-19 pandemic and facing the ongoing threat of climate change and the war in Ukraine.</p> <p class="text-align-justify">These challenges are particularly acute in developing economies.</p> </div> </div> </div> <div class="layout__region layout__region--second"> </div> </div> <div class="layout layout--twocol-section 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</a> </div> </div> </div> </div> <div class="col-5 col-md-3 col-lg-5"> <a href="https://unctad.org/publication/global-impact-war-ukraine-energy-crisis" aria-label="Read more about Global impact of war in Ukraine: Energy crisis"> <img src="https://unctad.org/sites/default/files/2022-08/un-gcrg-ukraine-brief-no-3_143x200.png" alt="Cover image for Global impact of war in Ukraine: Energy crisis"> </a> </div> <div class="col-7 col-md-9 col-lg-7 m-auto"> <h3> <a href="https://unctad.org/publication/global-impact-war-ukraine-energy-crisis">Global impact of war in Ukraine: Energy crisis</a> </h3> </div> </div> </div> </div> </div> </div> <div class="row m-auto d-flex justify-content-end text-end"> <div class="col-12 col-lg-6 mb-3"> <a href="https://unctad.org/publications-search?f[0]=product%3A410" class="all" type="button">More publications</a> </div> </div> </div> </div> </div> </div> </div> <div class="layout__region layout__region--second"> </div> </div> <div class="gcrg-lp-layout my-5 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title="url_ver=Z39.88-2004&amp;ctx_ver=Z39.88-2004&amp;rfr_id=info%3Asid%2Fzotero.org%3A2&amp;rft.date=2024-06-04&amp;rft.identifier=https%3A%2F%2Functad.org%2Fsystem%2Ffiles%2Fofficial-document%2Fosgttinf2024d1_en.pdf&amp;rft_val_fmt=info:ofi/fmt:kev:mtx:book&amp;rft.genre=report&amp;rft.btitle=A%20world%20of%20debt%202024&amp;rft.language=English"></span> </div> <div class="views-row col-md-2"> <a href="/publication/aid-under-pressure-3-accelerating-shifts-official-development-assistance" title="Aid under pressure: 3 accelerating shifts in official development assistance"> <img src="/sites/default/files/2024-04/un-gcrg-oda-report_143x200.jpg" alt="Publication cover image" class="img-responsive max-width" /> <div class="title"><h4>Aid under pressure: 3 accelerating shifts in official development assistance</h4></div> </a> <span class="Z3988" title="url_ver=Z39.88-2004&amp;ctx_ver=Z39.88-2004&amp;rfr_id=info%3Asid%2Fzotero.org%3A2&amp;rft.date=2024-04-11&amp;rft.identifier=https%3A%2F%2Functad.org%2Fsystem%2Ffiles%2Fofficial-document%2Fun-gcrg-oda-report_en.pdf&amp;rft_val_fmt=info:ofi/fmt:kev:mtx:book&amp;rft.genre=report&amp;rft.btitle=Aid%20under%20pressure%3A%203%20accelerating%20shifts%20in%20official%20development%20assistance&amp;rft.language=English"></span> </div> </div> </div> <div class="more-link form-group"></div> </div> </div> </div> </div> </div> <div class="layout layout--twocol-section layout--twocol-section--67-33 gcrg-lp-layout mt-5"> <div class="layout__region layout__region--first"> <div class="block block-layout-builder block-inline-blockbasic" style=" background-color: inherit; " id="unctad-block-71771" > <h2 style=" "><span>A three-dimensional crisis</span></h2> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>Countries and people with limited capacity to cope are the most affected by the ongoing cost-of-living crisis. Three main transmission channels generate these effects: rising food prices, rising energy prices, and tightening financial conditions. Each of these elements can have important effects on its own, but they can also feed into each other creating vicious cycles.</p> </div> </div> </div> </div> <div class="my-5 layout layout--onecol"> <div class="layout__region layout__region--content"> <div class="gcrg-lp-layout my-5 block block-layout-builder block-inline-blockbasic" style=" background-color: inherit; " id="unctad-block-44788" > <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><style type="text/css">.gcrg-lp-workflows-container { max-width: 1200px; margin: auto; display: flex; flex-wrap: wrap; justify-content: space-between; } .gcrg-lp-workflows-column { flex-basis: calc(33.33% - 10px); padding: 10px; display: flex; flex-direction: column; align-items: stretch; } @media screen and (max-width: 992px) { .gcrg-lp-workflows-column { flex-basis: calc(50% - 10px); } } @media screen and (max-width: 991px) { .gcrg-lp-workflows-container { flex-direction: column; } .gcrg-lp-workflows-column { flex-basis: 100%; } } .gcrg-lp-workflows-box { display: flex; flex-direction: column; align-items: flex-start; padding: 20px; background-color: #DED9D5; border: 10px solid #EBEAE6; flex-grow: 1; text-decoration: none; } .gcrg-lp-workflows-box span { display: flex; align-items: center; color: black; margin: 0; font: normal normal 600 40px/40px Roboto Condensed; } .gcrg-lp-workflows-box span svg { margin-right: 10px; } .gcrg-lp-workflows-box p { margin-top: 10px; line-height: 1.5; flex-grow: 1; font: normal normal normal 17px/28px Roboto; } </style> <div class="gcrg-lp-workflows-container"> <div class="gcrg-lp-workflows-column"> <div class="gcrg-lp-workflows-box"><span>Food</span> <p>We urge all countries to keep markets open, resist unjustified and unnecessary export restrictions, and make reserves available to countries at risk of hunger and famine.</p> <!--p><a href="/global-crisis/food" role="button">Learn more</a></p--></div> </div> <div class="gcrg-lp-workflows-column"> <div class="gcrg-lp-workflows-box"><span>Energy</span> <p>The use of strategic stockpiles and additional reserves could help to ease the energy crisis in the short term. But the only medium- and long-term solution is to accelerate the deployment of renewable energy.</p> <!--p><a href="/global-crisis/energy" role="button">Learn more</a></p--></div> </div> <div class="gcrg-lp-workflows-column"> <div class="gcrg-lp-workflows-box"><span>Finance</span> <p>We need urgent action by the G20 and international financial institutions to increase liquidity and fiscal space so that governments can provide safety nets for the poorest and most vulnerable.</p> <!--p><a href="/global-crisis/finance" role="button">Learn more</a></p--></div> </div> </div> </div> </div> </div> </div> <div class="layout layout--twocol-section layout--twocol-section--67-33 gcrg-lp-layout my-5"> <div class="layout__region layout__region--first"> <div class="block block-layout-builder block-inline-blockbasic" style=" background-color: inherit; " id="unctad-block-84106" > <h2 style=" "><span>Related agreements on food and fertilizers</span></h2> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>The GCRG’s work on the food aspect of the global crisis helped lead to the signing of two agreements to address growing global food insecurity around the world.</p> </div> </div> </div> </div> <div class="layout layout--twocol-section layout--twocol-section--50-50 gcrg-lp-layout mb-5"> <div class="layout__region layout__region--first"> <div class="block block-layout-builder block-inline-blockbasic" style=" background-color: inherit; " id="unctad-block-97226" > <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><h3>The Black Sea Initiative</h3> <p>On 22 July, the United Nations, the Russian Federation, Türkiye and Ukraine agreed the Black Sea Initiative, at a signing ceremony in Istanbul.</p> <p>The initiative was set up to reintroduce vital food and fertilizer exports from Ukraine to the rest of the world. A Joint Coordination Centre was established to monitor implementation.</p> <p><a href="/global-crisis/black-sea-initiative" role="button">Learn more</a></p> <p><a href="https://www.un.org/en/black-sea-grain-initiative/vessel-movements" role="button" target="_blank">Latest data</a></p> </div> </div> </div> <div class="layout__region layout__region--second"> <div class="block block-layout-builder block-inline-blockbasic" style=" background-color: inherit; " id="unctad-block-75675" > <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><h3>Memorandum of Understanding</h3> <p>This Memorandum of Understanding (MoU) was signed between the United Nations and the Russian Federation in Istanbul on 22 July 2022, at the same time as the Black Sea Grain Initiative.</p> <p>Together they pave the way for food and fertilizer to reach global markets, which will help to stabilize spiralling food prices worldwide and stave off famine, affecting millions.</p> <p><a href="/global-crisis/memorandum-of-understanding" role="button">Learn more</a></p> </div> </div> </div> </div> <div class="gcrg-lp-layout my-5 layout layout--onecol"> <div class="layout__region layout__region--content"> <div class="block block-layout-builder block-inline-blockbasic" style=" background-color: inherit; " id="unctad-block-95667" > <h2 style=" "><span>Pulse of the global crisis</span></h2> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>The dashboard provides the latest data on the food, energy and finance aspects of the global crisis. The data is updated weekly or monthly depending on the source.</p><link href="https://storage.unctad.org/2023-gcrg_dashboard/css/2023-ukraine_brief_3_dashboard.min.css" rel="stylesheet"><div id="app-root-2023-gcrg_dashboard">Loading...</div><script defer="defer" src="https://storage.unctad.org/2023-gcrg_dashboard/js/2023-ukraine_brief_3_dashboard.min.js"></script><style type="text/css">h1.page-header { display: none !important; } ol.breadcrumb { display: none !important; } .full-width .full-width-row { max-width: 100% !important; padding: 0 !important; width: 100% !important; } .main-container { max-width: 100% !important; padding: 0 !important; width: 100% !important; } .node__content img { padding: 0px; max-width: 100%; height: auto; display: inline; } #app-root-2023-gcrg_dashboard { line-height: normal !important; } #app-root-2023-gcrg_dashboard .title_container h2:after { display: none !important; } </style></div> </div> </div> </div> <div class="layout layout--twocol-section layout--twocol-section--50-50 gcrg-lp-layout my-5"> <div class="layout__region layout__region--first"> <div class="block block-layout-builder block-inline-blockbasic" style=" background-color: inherit; " id="unctad-block-39516" > <h2 style=" "><span>Videos</span></h2> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><style type="text/css">.gcrg-lp-video-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; } .gcrg-lp-video-container iframe { position: absolute; top: 0; left: 0; width: 100%; height: 100%; } .gcrg-lp-thumbnail-container { display: flex; justify-content: center; margin-top: 20px; } .gcrg-lp-thumbnail-list { list-style: none; padding: 0; display: flex; flex-direction: column; align-items: flex-start; width: 100%; } .gcrg-lp-thumbnail-list-item { display: flex; align-items: flex-start; margin-bottom: 10px; width: 100%; cursor: pointer; } .gcrg-lp-thumbnail-list-item img { width: 100px; height: 100px; object-fit: cover; margin-right: 10px; } .gcrg-lp-thumbnail-list-item .gcrg-lp-thumbnail-info { display: flex; flex-direction: column; } .gcrg-lp-thumbnail-list-item .gcrg-lp-thumbnail-info h4 { margin: 0; } .gcrg-lp-thumbnail-list-item .gcrg-lp-thumbnail-info p { margin: 0; } @media (max-width: 768px) { .gcrg-lp-thumbnail-list-item img { width: 120px; height: 120px; } } </style> <div class="gcrg-lp-video-container"><iframe allowfullscreen frameborder="0" id="main-video" src="https://www.youtube.com/embed/noeYVNroTAo"></iframe></div> <div class="gcrg-lp-thumbnail-container"> <ul class="gcrg-lp-thumbnail-list"> <li class="gcrg-lp-thumbnail-list-item" onclick="changeMainVideo('qzZiJeNYBIY')"><img alt="Thumbnail 1" src="https://img.youtube.com/vi/qzZiJeNYBIY/maxresdefault.jpg"> <div class="gcrg-lp-thumbnail-info"> <h4>UN Global Crisis Response Group addresses the war in Ukraine’s global impacts</h4> <p>Developing countries hit hard by the COVID-19 pandemic face new challenges from the war in Ukraine.</p> </div> </li> <li class="gcrg-lp-thumbnail-list-item" onclick="changeMainVideo('noeYVNroTAo')"><img alt="Thumbnail 1" src="https://img.youtube.com/vi/noeYVNroTAo/maxresdefault.jpg"> <div class="gcrg-lp-thumbnail-info"> <h4>Press conference (first report): Global impact of the war in Ukraine on food, energy and finance systems</h4> <p>The UN Global Crisis Response Group calls for immediate action to avert cascading impacts of war in Ukraine.</p> </div> </li> <li class="gcrg-lp-thumbnail-list-item" onclick="changeMainVideo('ixalxwZh67w')"><img alt="Thumbnail 2" src="https://img.youtube.com/vi/ixalxwZh67w/maxresdefault.jpg"> <div class="gcrg-lp-thumbnail-info"> <h4>Press conference (second report): Billions of people face the greatest cost-of-living crisis in a generation</h4> <p>The war in Ukraine threatens to unleash an “unprecedented wave” of global hunger and destitution.</p> </div> </li> <li class="gcrg-lp-thumbnail-list-item" onclick="changeMainVideo('Rn_tU-hFpmY')"><img alt="Thumbnail 3" src="https://img.youtube.com/vi/Rn_tU-hFpmY/maxresdefault.jpg"> <div class="gcrg-lp-thumbnail-info"> <h4>Press conference (third brief): Energy crisis</h4> <p>Skyrocketing energy prices are compounding an existential cost-of-living crisis for hundreds of millions of people.</p> </div> </li> </ul> </div> <script> function changeMainVideo(videoId) { var mainVideo = document.getElementById("main-video"); var mainVideoSrc = mainVideo.src; mainVideo.src = mainVideoSrc.replace(/embed\/[\w-]+/, "embed/" + videoId); var thumbnailVideos = document.getElementsByClassName("thumbnail-list-item"); for (var i = 0; i < thumbnailVideos.length; i++) { thumbnailVideos[i].classList.remove("active"); } event.currentTarget.classList.add("active"); } </script></div> </div> </div> <div class="layout__region layout__region--second"> <div class="block block-unctad-block block-unctad-featured-podcast vertical" style=" background-color: inherit; " id="unctad-block-45225" > <h2 style=" "><span>Podcasts</span></h2> <div class="row"> <div class="content-un-wrapper"> <div class="col-md-12"> <div class="iframe"><iframe title="111. 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Credit crunch: Why we need an effective global system to deal with debt" allowtransparency="true" height="150" width="100%" style="border: none; min-width: min(100%, 430px);" scrolling="no" data-name="pb-iframe-player" src="https://www.podbean.com/player-v2/?i=ehes8-143c7ac-pb&from=pb6admin&share=1&download=1&rtl=0&fonts=Verdana&skin=f6f6f6&font-color=000000&logo_link=none&btn-skin=60a0c8"></iframe></div> <h4 class="title"><a href="/podcast/credit-crunch-why-we-need-effective-global-system-deal-debt">Credit crunch: Why we need an effective global system to deal with debt</a></h4> <div class="text">This episode of The Weekly Tradecast looks at debt – what it is, how it works and why it matters – with economist Daniel Munevar from UNCTAD’s debt and development finance branch.</div> </div> </div> </div> </div> </div> </div> <div class="gcrg-lp-layout my-5 layout layout--onecol"> <div class="layout__region layout__region--content"> <div class="gcrg-lp-related-publications block block-unctad-block block-unctad-publications horizontal" style=" background-color: inherit; " id="unctad-block-14335" > <h2 style=" "><span>Related UNCTAD publications</span></h2> <div class="views-element-container"><div class="unctad-block view view-unctad-publications view-id-unctad_publications view-display-id-block_sitemap_horizontal js-view-dom-id-5cca1a12c094abafa206fe6f84c8bd99257fa39886e77e85f88c690c9c04b27d"> <div class="view-content"> <div class="row"> <div class="views-row col-md-2"> <a href="/publication/powering-trade-fine-tuning-trade-policy-solar-and-wind-energy-value-chains" title="Powering trade: Fine-tuning trade policy for solar and wind energy value chains"> <img src="/sites/default/files/2024-10/osgttinf2024d3_143x200_0.jpg" alt="Publication cover image" class="img-responsive max-width" /> <div class="title"><h4>Powering trade: Fine-tuning trade policy for solar and wind energy value chains</h4></div> </a> <span class="Z3988" title="url_ver=Z39.88-2004&amp;ctx_ver=Z39.88-2004&amp;rfr_id=info%3Asid%2Fzotero.org%3A2&amp;rft.date=2024-10-17&amp;rft.identifier=https%3A%2F%2Functad.org%2Fsystem%2Ffiles%2Fofficial-document%2Fosgttinf2024d3_en.pdf&amp;rft_val_fmt=info:ofi/fmt:kev:mtx:book&amp;rft.genre=report&amp;rft.btitle=Powering%20trade%3A%20Fine-tuning%20trade%20policy%20for%20solar%20and%20wind%20energy%20value%20chains&amp;rft.language=English"></span> </div> <div class="views-row col-md-2"> <a href="/a-trade-hope-2" title="A Trade Hope: The impact of the Black Sea Grain Initiative"> <img src="/sites/default/files/2023-03/osginf2023d3_143x200.jpg" alt="Publication cover image" class="img-responsive max-width" /> <div class="title"><h4>A Trade Hope: The impact of the Black Sea Grain Initiative</h4></div> </a> <span class="Z3988" title="url_ver=Z39.88-2004&amp;ctx_ver=Z39.88-2004&amp;rfr_id=info%3Asid%2Fzotero.org%3A2&amp;rft.date=2023-03-09&amp;rft.identifier=https%3A%2F%2Functad.org%2Fsystem%2Ffiles%2Fofficial-document%2Fosginf2023d3_en.pdf&amp;rft_val_fmt=info:ofi/fmt:kev:mtx:book&amp;rft.genre=report&amp;rft.btitle=A%20Trade%20Hope%3A%20The%20impact%20of%20the%20Black%20Sea%20Grain%20Initiative&amp;rft.language=English"></span> </div> <div class="views-row col-md-2"> <a href="/a-double-burden" title="A Double Burden: The effects of food price increases and currency depreciations on food import bills"> <img src="/sites/default/files/2022-12/ditcinf2022d3_0.jpg" alt="Publication cover image" class="img-responsive max-width" /> <div class="title"><h4>A Double Burden: The effects of food price increases and currency depreciations on food import bills</h4></div> </a> <span class="Z3988" 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Easily understand debt dynamics and their impact on economic and financial stability.</span></div><div><div class="algnright"><time datetime="2024-09-04T12:00:00Z" class="datetime">4 Sep 2024</time> </div></div><div class="views-field views-field-nothing"><span class="field-content"><div class="clear">&nbsp;</div></span></div></a> </div> <div class="views-row col-md-3"> <a href="/news/gender-related-aid-doubled-over-past-decade-equality-remains-distant-goal" title="Gender-related aid doubled over past decade, but equality remains a distant goal"><div class="views-field views-field-field-news-image"><div class="field-content"> <img loading="lazy" src="/sites/default/files/styles/medium_16_9/public/2024-06/FVy4G-gender-related-aid-doubled-over-the-past-decade-increasing-mainly-in-the-form-of-loans.png?itok=AAVHnAaI" width="420" height="236" alt="Gender-related aid doubled over the past decade, increasing mainly in the form of loans" class="medium_16_9" /> </div></div><div class="views-field views-field-title"><span class="field-content">Gender-related aid doubled over past decade, but equality remains a distant goal</span></div><div class="views-field views-field-nothing-1"><span class="field-content">Aid for gender goals jumped from $26 billion to $52 billion in 10 years, primarily through loans and for projects where equality was a significant but not primary focus.</span></div><div><div class="algnright"><time datetime="2024-06-26T12:00:00Z" class="datetime">26 Jun 2024</time> </div></div><div class="views-field views-field-nothing"><span class="field-content"><div class="clear">&nbsp;</div></span></div></a> </div> <div class="views-row col-md-3"> <a href="/news/global-public-debt-hits-record-97-trillion-2023-un-urges-action" title="Global public debt hits record $97 trillion in 2023, UN urges action"><div class="views-field views-field-field-news-image"><div class="field-content"> <img loading="lazy" src="/sites/default/files/styles/medium_16_9/public/2024-06/20240604_NewsPic_shutterstock_1784638013_1200X675.jpg?itok=7sQFWCLQ" width="420" height="236" alt="A classroom in Uganda." class="medium_16_9" /> </div></div><div class="views-field views-field-title"><span class="field-content">Global public debt hits record $97 trillion in 2023, UN urges action</span></div><div class="views-field views-field-nothing-1"><span class="field-content">The alarming surge in global debt burden calls for urgent reforms to the international financial systems to safeguard a prosperous future for both people and the planet.</span></div><div><div class="algnright"><time datetime="2024-06-04T12:00:00Z" class="datetime">4 Jun 2024</time> </div></div><div class="views-field views-field-nothing"><span class="field-content"><div class="clear">&nbsp;</div></span></div></a> </div> <div class="views-row col-md-3"> <a href="/news/aid-small-islands-falls-even-temperatures-rise" title="Aid to small islands falls even as temperatures rise"><div class="views-field views-field-field-news-image"><div class="field-content"> <img loading="lazy" src="/sites/default/files/styles/medium_16_9/public/2024-05/i7GhG-aid-to-small-islands-declines-even-as-climate-change-intensifies.png?itok=hzgRRgke" width="420" height="236" alt="Graph showing that development aid to small islands falls even as temperatures rise" class="medium_16_9" /> </div></div><div class="views-field views-field-title"><span class="field-content">Aid to small islands falls even as temperatures rise</span></div><div class="views-field views-field-nothing-1"><span class="field-content">Exposed to sea level rise and extreme weather events, these islands are in dire need of the right financial support to survive climate change.</span></div><div><div class="algnright"><time datetime="2024-05-28T12:00:00Z" class="datetime">28 May 2024</time> </div></div><div class="views-field views-field-nothing"><span class="field-content"><div class="clear">&nbsp;</div></span></div></a> </div> </div> </div> <div class="more-link form-group"><a href="/news-search?f[0]=sitemap%3A1660" class="btn btn-default">More news</a></div> </div> </div> </div> </div> </div> <div class="layout layout--onecol"> <div class="layout__region layout__region--content"> <div class="block block-layout-builder block-extra-field-blocknodeprogrammelinks" style=" background-color: inherit; " id="unctad-block-29569" > </div> </div> </div> <div class="layout layout--onecol"> <div class="layout__region layout__region--content"> <div class="block block-layout-builder block-inline-blockbasic" style=" background-color: inherit; " id="unctad-block-97582" > </div> <div class="block block-layout-builder block-inline-blockbasic" style=" background-color: inherit; " id="unctad-block-78986" > <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>&nbsp;</p> <div class="row" style="background-color:#F2F2F2;color:white"> <div class="col-md-12"> <p>&nbsp;</p> <p class="text-align-center"><a class="btn btn-primary btn-lg" href="https://news.un.org/en/focus/ukraine" role="button" target="_blank" title="See more on UN's focus on Ukraine">See more on UN's focus on Ukraine</a></p> <p>&nbsp;</p> </div> </div> <p>&nbsp;</p> </div> </div> </div> </div> </div> </article> </div> </section> </div> </div> <div class="footer-wrapper container"> <img class="arrow left" src="/themes/custom/newyork_b5/images/arrow.png" alt="Arrow" /> <img class="arrow right" src="/themes/custom/newyork_b5/images/arrow.png" alt="Arrow" /> <footer class="footer-un2" role="contentinfo"> <div class="row footer-links"> <div class="col-md-2"> <img class="logo" src="/themes/custom/newyork_b5/images/logo_small_white_en.png" alt="United Nations Conference on Trade and Development" /> </div> <div class="col-md-10"> <div class=""> <section class="row region region-footer"> <nav role="navigation" aria-labelledby="block-newyork-footer-menu" id="block-newyork-footer" class="block block-menu navigation menu--footer"> <h2 class="visually-hidden" id="block-newyork-footer-menu">Footer menu</h2> <ul id="block-newyork-footer" class="clearfix menu nav list-inline"> <li class="list-inline-item menu-item"> <a href="/delegate">DELEGATES</a> </li> <li class="list-inline-item menu-item"> <a href="/civil-society" data-drupal-link-system-path="node/71">CIVIL SOCIETY</a> </li> <li class="list-inline-item menu-item"> <a href="https://intranet.unctad.org">Staff</a> </li> <li class="list-inline-item menu-item"> <a href="/media-centre" data-drupal-link-system-path="node/2882">JOURNALISTS</a> </li> <li class="list-inline-item menu-item"> <a href="/projects" data-drupal-link-system-path="node/9">Technical cooperation</a> </li> <li class="list-inline-item menu-item"> <a href="/employment" data-drupal-link-system-path="node/15">Careers</a> </li> </ul> </nav> <nav role="navigation" aria-labelledby="block-newyork-b5-newbrandingfooter-menu" id="block-newyork-b5-newbrandingfooter" class="block block-menu navigation menu--new-branding-footer"> <h2 class="visually-hidden" id="block-newyork-b5-newbrandingfooter-menu">New Branding Footer</h2> <div class="menu-wrapper"> <div class="top-text"> <span class="contact">CONTACT</span> <span class="follow">FOLLOW US</span> </div> <div class="socialMedia"> <a href="mailto:unctadinfo@unctad.org"><i class="fa-regular fa-envelope email"></i></a> <a href="https://www.instagram.com/unctad/"><i class="fa-brands fa-instagram instagram"></i></a> <a href="https://twitter.com/unctad"><i class="fa-brands fa-x-twitter twitter"></i></a> <a href="https://www.youtube.com/user/UNCTADOnline"><i class="fa-brands fa-youtube youtube"></i></a> <a href="https://www.flickr.com/photos/53390373@N06/"><i class="fa-brands fa-flickr fa-inverse flickr"></i></a> <a href="https://www.linkedin.com/company/unctad"><i class="fa-brands fa-linkedin-in linkedin"></i></a> <a href="https://www.facebook.com/UNCTAD"><i class="fa-brands fa-facebook-f facebook"></i></a> </div> </div> <style> .socialMedia {display:flex;gap:5px} .socialMedia a {display: flex;justify-content: center;align-items: center;width: 30px;height: 30px;border-radius: 50%;border: 3px solid #E4E3E1;background-color: black;text-decoration: none;color: white;font-size: 18px} .socialMedia a:hover {border-color: #009EDB} .socialMedia a i {transition: transform 0.3s ease;} .socialMedia a:hover i {transform: scale(1.2)} .menu-wrapper .top-text {padding-bottom:10px} .menu-wrapper .socialMedia a[href^="mailto:"] {margin-right:20px;margin-left:10px} </style> </nav> </section> </div> </div> </div> <div class="row"> <div class="col-md-8"> <span class="details">UNCTAD - Palais des Nations, 8-14, Av. de la Paix, 1211 Geneva 10, Switzerland<br /> &copy; 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