Khaberni - The President of the UN General Assembly, Annalena Baerbock, warned today, Tuesday, that the debts of developing countries reached $31 billion last year.
In a video speech at the opening of the 16th session of the United Nations Conference on Trade and Development (UNCTAD), she said: "This means that these countries, instead of investing in the future of their peoples by building more schools or expanding health care facilities, are spending enormous amounts on servicing debts."
Baerbock added, according to the UN News site, that "confidence in the international system is eroding," adding: "Although the global economy is worth over $100 trillion annually, one in every two people in the world has seen little to no increase in their income since a generation."
