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This week at the UN’s flagship trade and development conference, nations highlighted the mounting struggles of developing countries — chief among them, crushing debt. With levels at record highs, calls for action have intensified, and a new initiative emerged from the conference to tackle the crisis.

But a wide gap remains between what developing countries want and what developed nations can get on board with.

photo journaliste

Michelle Langrand

24.10.2025


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Photo article

Rebeca Grynspan, Unctad secretary general, speaks at the 16th trade and development conference in Geneva, 20 October 2025. (Keystone/Salvatore Di Nolfi)

Can Unctad solve the global debt crisis? The UN's trade and development flagship meeting sounded alarms over debt eroding development gains and launched a new hub to tackle the crisis and pave the way for reform – but can it really get creditors to the table?

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