The UNCTAD recently published its annual report 2019 and it highlighted that the repayments by developing countries on their external public debt may increase the stress on the economy.
The UNCTAD or United Nations Conference on Trade and Development is a permanent intergovernmental body established in 1964. It deals with issues in trade, development and investments. It is a part of the UN Secretariat. It reports to the UNGA and the UN Economic and Social Council.
- Publishes reports like Trade and Development Report, Information Economy Report, World Investment Report, etc.
- Technical cooperation programs like the ASYCUDA (computerised system for administration of customs in a country), WAIPA (forum for investment promotion), etc.
- Founding member of the Sustainable Stock Exchanges initiative for promotion of corporate investment in sustainable development.
- UN Global Compact to encourage firms to adopt policies that are sustainable and socially responsible, etc.
International Day of Multilateralism and Diplomacy for Peace
The report was released on occasion of the International Day for Multilateralism and Diplomacy for Peace. The day was established on 12th December 2018. It was first observed in 2019. It is observed as ‘preserving the values of multilateralism and international cooperation is fundamental to promote and support the three pillars of the UN – peace and security, development and human rights’.