Foreign News
Boosting Production, Crucial for Least Developed Countries, Post Pandemic – UNCTAD
The world’s poorest countries will remain on the margins of the global economy if States are unable to boost economic production, and the international community fails to provide more support, the UN Conference on Trade and Development (UNCTAD) has warned.
UNCTAD’s Least Developed Countries Report 2021, released on Monday noted that their ability to respond to and recover from crises such as COVID-19, and to advance towards sustainable development, is dependent on increasing production capacities.
The UN agency called specifically for increased investment in State and productive capacities for the Least Developed Countries (LDCs) grouping.
“Today LDCs find themselves at a critical juncture,” said UNCTAD Secretary-General Rebeca Grynspan.
“They need decisive support from the international community to develop their productive capacities and institutional capabilities to face traditional and new challenges.”
UNCTAD defines productive capacities as “the productive resources, entrepreneurial capabilities and production linkages that together determine the capacity of a country to produce goods and services and enable it to grow and develop.”
Developing production allows the world’s LDCs to foster structural economic transformation, which will in turn help reduce poverty and accelerate progress towards the UN Sustainable Development Goals (SDGs).
The report warns that reaching SDGs will require massive investment and spending, which go well beyond LDCs’ own financial means.
The UN established the LDC category 50 years ago. The grouping of the world’s weakest economies has expanded from an initial 25 countries in 1971, peaking at 52 in 1991, and stands at 46 today, with only six countries progressing enough to no longer be considered an LDC.
Over the last two decades, only a handful of LDCs have displayed encouraging signs of structural transformation and meaningful productivity improvements, the report said.
LCDs recorded the worst growth performance in about three decades during 2020. The COVID-19 pandemic has dramatically highlighted their institutional, economic and social shortcomings, the report highlights.
LDCs’ limited resilience is reflected in their low COVID-19 vaccination rates, as only two per cent of their population have managed to get shots, compared with 41 per cent in developed countries.
Grynspan urged LDCs’ development partners to consider the special needs of the more than one billion living in these countries during UNCTAD’s upcoming conference in October, under the theme, From inequality and vulnerability, to prosperity for all.
The UNCTAD report describes LDCs’ financing needs as ‘daunting’, especially in relation to structural transformation targets.
For example, the report estimated that the average annual investment required to reach the 7 per cent growth target (SDG 8.1) is around US$ 462 billion, while the average annual investment requirements to end extreme poverty (SDG 1.1) in LDCs, is estimated at US$ 485 billion.
The average annual investment required to double the share of manufacturing in GDP (SDG 9.2) is estimated at over US$ 1 trillion.
To generate sufficient development finance, LDCs will need to strengthen their fiscal capacities, increase domestic resource mobilization and improve the effectiveness of public expenditures, the report said but warned that even this will not be enough.
“The international community has an essential role to play in supporting LDCs in their efforts to mobilize adequate financing for their sustainable development needs,” the report said.
According to UNCTAD’s analysis, most LDCs will need three to five or more years, to recover the level of GDP per capita they had in 2019.
Domestic efforts to recover need to be supported by a new generation of international support measures that are more closely aligned to LDCs’ needs and 21st-century realities, Paul Akinwumi, director of UNCTAD’s division for Africa and least developed countries, said.
“A purposeful industrial policy should be at the core of LDCs’ pursuit of green growth and structural transformation because these countries need to urgently diversify from their overdependence on primary commodities.”
Akinwumi added that increasing investment in state capacity and productive capacities must be at the heart of the next programme of action for these countries for the decade 2022 to 2031, to be adopted at the Fifth UN Conference on LDCs in January 2022.
He also urged LDC governments to adapt programmes negotiated at the international level to their unique national conditions and to resolve trade-offs when formulating their national developments plans (NAN)
Foreign News
President Yoon Banned from Leaving South Korea
The South Korean Government ordered an overseas travel ban on President Yoon Suk Yeol.The South Korean news agency Yonhap reported on Monday that the travel ban is due to the ongoing investigation into Yoon, which involves suspicion of high treason.Yoon unexpectedly imposed martial law on his country last Tuesday night, but hours later, after massive political resistance, he repealed the order.
On Saturday evening, a motion by the opposition to impeach the president in parliament failed. However, public pressure against the 63-year-old continues. (dpa/NAN)Foreign News
Israel Threatens to Expand War if Hezbollah Truce Collapses
Israel threatened on Tuesday to return to war in Lebanon if its truce with Hezbollah collapses and said this time its attacks would go deeper and target the Lebanese state itself, after the deadliest day since the ceasefire was agreed last week.
In its strongest threat since the truce was agreed to end 14 months of war with Hezbollah, Israel said it would hold Lebanon responsible for failing to disarm militants who violated the truce.
“If we return to war we will act strongly, we will go deeper, and the most important thing they need to know: that there will be no longer be an exemption for the state of Lebanon,” Defence Minister Israel Katz said.
“If until now we separated the state of Lebanon from Hezbollah… it will no longer be (like this),” he said during a visit to the northern border area.
Despite last week’s truce, Israeli forces have continued strikes in southern Lebanon against what they say are Hezbollah fighters ignoring the agreement to halt attacks and withdraw beyond the Litani River, about 30 km (18 miles) from the frontier.
On Monday, Hezbollah shelled an Israeli military post, while Lebanese authorities said at least 12 people were killed in Israeli airstrikes on Lebanon.
Katz called the Hezbollah attack “the first test” and described Israel’s strikes as a strong response.
The Beirut government must “authorise the Lebanese army to enforce their part, to keep Hezbollah away beyond the Litani, and to dismantle all the infrastructure,” Katz said.
“If they don’t do it and this whole agreement collapses then the reality will be very clear.”
Top Lebanese officials urged Washington and Paris to press Israel to uphold the ceasefire, after dozens of military operations on Lebanese soil that Beirut has deemed violations, two senior Lebanese political sources told Reuters on Tuesday.
The sources said caretaker Prime Minister Najib Mikati and Speaker of Parliament Nabih Berri, a close Hezbollah ally who negotiated the deal on behalf of Lebanon, spoke to officials at the White House and French presidency late on Monday.
Mikati, quoted by the Lebanese news agency, said that diplomatic communications had intensified since Monday to stop Israeli violations of the ceasefire.
He also said a recruitment drive was under way by the Lebanese army to strengthen its presence in the south.
U.S. State Department spokesperson Matt Miller told reporters on Monday that the ceasefire “is holding” and that the U.S. had “anticipated that there might be violations”.
Neither the French presidency nor the foreign ministry were immediately available to comment.
French Foreign Minister Jean-Noel Barrot spoke to his Israeli counterpart Gideon Saar on Monday, saying both sides should adhere to the ceasefire.
The truce came into effect on Nov. 27 and prohibits Israel from conducting offensive military operations in Lebanon, while requiring Lebanon to prevent armed groups including Hezbollah from launching attacks on Israel.
It gives Israeli troops 60 days to withdraw from south Lebanon.
A mission chaired by the United States is tasked with monitoring, verifying, and helping enforce the truce, but it has yet to begin work.
Berri on Monday called on the mission to “urgently” ensure Israel halts its breaches, saying Beirut had logged at least 54 Israeli violations of the ceasefire so far.
Israel has said its continued activity in Lebanon is aimed at enforcing the ceasefire.
Lebanon’s Mikati met in Beirut on Monday with U.S. General Jasper Jeffers, who will chair the monitoring committee.
Two sources familiar with the matter told Reuters that France’s representative to the committee, General Guillaume Ponchin, would arrive in Beirut on Wednesday and that the committee would hold its first meeting on Thursday.
“There is an urgency to finalise the mechanism, otherwise it will be too late,” the source said, referring to Israel’s gradual intensification of strikes even with the truce in place. (Reuters/NAN)
Foreign News
Starmer Rules out Re-running UK Election as Petition Gets Signatures
British Prime Minister Keir Starmer has ruled out calling another general election, but said he is “not surprised” some people who did not support his party, Labour, might want a second poll.
A petition on Parliament’s website calling for another election has now been signed by more than two million people.
“I would like there to be another general election,” it reads.
“I believe the current Labour Government have gone back on the promises they laid out in the lead-up to the last election.
”Asked about the petition on ITV’s “This Morning” programme on Monday, Starmer said: “Look, I remind myself that very many people didn’t vote Labour at the last election.
“I’m not surprised that many of them want a re-run. That isn’t how our system works.
“There will be plenty of people who didn’t want us in the first place.
“So, what my focus is on is the decisions that I have to make every day.”
He characterized decisions taken so far by his government as “tough but fair.”
Starmer and his ministers have faced a particularly strong backlash for limiting winter fuel payments to only the poorest pensioners.
Farmers have also protested over changes to inheritance tax which they claim could affect the future of their businesses.
As he marks five months as prime minister, Starmer acknowledged the job has been difficult, but added: “I wouldn’t swap a single day in opposition for a day in power.
“It’s much better to be in power to do things, rather than the frustration, as I found it, in opposition for all of those long years where we were just able to say what we would do.”
The petition calling for another general election is open for signatures until May 2025.
While the vast majority of those signing it are from the UK, it has also gained support from other countries.
More than 1,200 people from the U.S. have added their names to it, with similar a number from France doing the same.
American signatories may have been made aware of the petition by Elon Musk, the businessman and ally of President-elect Donald Trump.
He shared the petition on X, the social media site he owns formerly known as Twitter, claiming “the people of Britain have had enough of a tyrannical police state”.
Starmer’s office sought to avoid being drawn into a war of words with Mr Musk.
The prime minister’s official spokesman added Starmer was “focused on the issues that matter most to the British people.”
Although it has garnered media attention and millions of signatures, it is far from the largest petition received through the Parliament website, or the one which has seen the most rapid take-up.
In 2019, some 6.1 million people signed a petition calling for the revocation of Article 50 and for the United Kingdom to remain in the European Union, four million of whom did so in 48 hours.
The second most-signed petition gained 4.1 million signatures.
The 2016 petition called for a second referendum on the UK’s membership of the European Union following the Brexit vote.
Because the election petition has received 10,000 signatures, ministers will issue a response to it.
MPs may consider it further in a Westminster Hall debate because it has been signed by more than 100,000 people, although this is not guaranteed.
A petition which has successfully made it to debate is one calling for social media companies to ban under 16-year-olds from their platforms after it received more than 110,00 signatures.
Another calling for the law around school term-time holidays to be relaxed, which received 250,000 signatures, was due for debate on Monday afternoon.
Michael Westwood, the man who started the petition, has confirmed he voted Conservative at the summer election.
But he told Talk TV he did not know if this would be the case again, adding: “One thing’s for certain, I wouldn’t be voting Labour.”
Among those sharing the petition online was retired actor Sir Michael Caine, who has been critical of Labour governments in the past. (PA Media/dpa/NAN)