80. Foundations for the future: Why the global financial system needs big changes to boost sustainable development

This episode of The Weekly Tradecast looks at the global financial architecture with UNCTAD senior economist Penelope Hawkins.  The war in Ukraine, a global cost of living crisis and the lingering pandemic have disrupted economies and piled on debt pressure with higher interest rates. For many countries, the debt distress presents stark choices between repaying loans, investing in development and coping with climate change.  So how can vulnerable countries manage their debt burdens and free up financing for a high-value and low-carbon future?  Listen in to UNCTAD’s Penelope Hawkins to find out why financial systems and rules need to evolve to help investment and trade flow smoothly and more sustainably.