The United Nations Conference on Trade and Development agency (UNCTAD) faces deep staffing cuts amid a global funding crisis, raising concerns about its ability to support developing nations navigating economic shocks like U.S. tariffs.
These cuts, the largest in the agency’s history, come amid a broader funding crisis affecting the entire U.N. system.
Secretary-General Rebeca Grynspan warned the move will seriously limit UNCTAD’s ability to respond to the growing demand from developing countries, particularly as they seek guidance on the effects of global trade shifts, including U.S. President Donald Trump’s tariffs.
UNCTAD is included in the broader cost-reduction initiative across the U.N., driven by a notable decline in funding, partly due to decreased U.S. contributions and ongoing liquidity issues.
The U.N. Secretariat plans to reduce its total $3.7 billion budget by 20%, with various agencies—such as the human rights office in Geneva, facing requests to downsize operations.
The proposed budget for UNCTAD will be reviewed and finalized by the U.N. Secretariat and member states in September.
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Greenlanders voiced support for diplomacy on Tuesday ahead of high-level talks in Washington, following renewed threats by U.S. President Donald Trump to take control of the Arctic territory.
Real Madrid have parted ways with coach Xabi Alonso, appointing former defender Álvaro Arbeloa as his replacement.
Timothée Chalamet won the Golden Globe for best male actor in a musical or comedy on Sunday for his role in Marty Supreme, beating strong competition in one of the night’s most closely watched categories.
Israel has sharply escalated its warnings to Lebanon amid rising regional tensions linked to Iran, according to a report by the Lebanese newspaper Nida Al Watan.
Iranian authorities have taken steps to disrupt access to Starlink satellite internet, according to users and digital-rights groups, in what appears to be the latest effort to tighten control over people’s access to the internet inside the country.
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