Why in News?
UNCTAD released a new assessment showing that Gaza’s economy collapsed by 83% in 2024, pushing its entire population into poverty and reversing decades of development gains.
Description:
About UNCTAD:
UNCTAD, has been rebranded as “UN Trade and Development”.
UNCTAD: UN’s permanent intergovernmental body on trade, development, and investment issues.
Genesis & Mandate:
- Established: 1964 by the UN General Assembly.
- Purpose: Strengthen the participation of developing and least-developed countries in the global economy.
- Helps Countries to:
- Address macro-level development challenges.
- Diversify economies beyond commodities.
- Reduce exposure to financial volatility.
- Improve trade, investment, and industrial policies.
Membership & Structure:
- Members: 195 nations (India included).
- Headquarters: Geneva, Switzerland.
Key Activities:
- Supports public finance and debt sustainability through DMFAS Programme. (Debt Management and Financial Analysis System)
- Conducts analytical research on global trade, investment flows, digital economy, and development finance.
- Addis Ababa Action Agenda (2015): Global framework for financing sustainable development. Implementation of Financing for Development, as mandated by the global community in the Addis Ababa Agenda (2015), together with four other major institutional stakeholders like World Bank, IMF, WTO, UNDP (esp. on Financing for Development).
Major Reports:
- Trade and Development Report
- World Investment Report
- Least Developed Countries Report
- Other policy briefs on trade logistics, digital economy, and commodity dependence.
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