UN Chief Warns Global Trade System Faces Collapse Amid Debt and Tariff Crisis

UN Secretary-General António Guterres warns that the rules-based international trade system is at risk of collapse due to escalating debt and tariffs affecting developing countries.

• During a speech in Geneva, António Guterres highlighted that global debt levels have surged, leaving many developing countries prioritizing creditor payments over essential services like health and education.
• The UN Chief pointed out that heavy tariffs are exacerbating the financial insecurity faced by least developed countries, making it difficult for them to recover from economic crises.
• Guterres criticized the current international financial architecture, stating it is inadequate in providing a safety net for developing countries grappling with poverty and hunger.