United Nations chief Antonio Guterres has condemned rich countries and energy giants for throttling poor nations with “predatory” interest rates and crippling fuel prices.
In his speech on the opening day of the UN’s Least Developed Countries (LDC) summit in Qatar on Saturday, Guterres said that wealthy nations should provide $500bn annually to help others “trapped in vicious cycles” that block their efforts to boost economies and improve health and education.
Afghanistan and Myanmar, two of the poorest countries, are not present at the meeting in Qatar’s capital Doha because their governments are not recognised by UN members. No leader from any of the world’s major economies attended.
“You [LDCs] represent one in eight people on Earth. I have enormous admiration for your remarkable efforts to achieve graduation, and sustain graduation.
But your countries are also trapped in vicious cycles that make development difficult,” he said. “Economic development is challenging when countries are starved for resources, drowning in debt, and still struggling with the historic injustice of an unequal COVID-19 response,” he said.
Guterres said the poorest nations were being left behind in the “digital revolution” and the Ukraine war had only increased prices they pay for food and fuel.
