Trade barriers, debt distress, and deep inequality.

Trade barriers, debt distress, and deep inequality.



The United Nations Secretary-General, Mr. Guterres outlined the “daunting challenges” LLDCs continue to face – steep barriers to trade, high transport costs, and limited access to global markets. He warned that the debt burden of these countries has reached “dangerous and unsustainable levels.”

Although LLDCs account for seven per cent of the world’s population, they represent just over one percent of global economic output and trade. “This is a stark example of deep inequalities that perpetuate marginalization,” said the Secretary-General, attributing this to “an unfair global economic and financial architecture that does not reflect the realities of today’s interconnected world”, as well as to the legacy of colonialism.

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