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UN trade agency says it faces 'painful' cuts as countries navigate tariffs
UN trade agency says it faces 'painful' cuts as countries navigate tariffs

The Star

time3 days ago

  • Business
  • The Star

UN trade agency says it faces 'painful' cuts as countries navigate tariffs

FILE PHOTO: The logo of the United Nations is seen in the General Assembly hall before heads of state begin to address the 76th Session of the U.N. General Assembly in New York City, U.S., September 21, 2021. REUTERS/Eduardo Munoz/Pool/File photo GENEVA (Reuters) -The United Nations trade and development agency, tasked with helping developing countries access the global economy, faces "painful" cuts as part of broader reforms prompted by a decline in global donor funding, its secretary general said. Rebeca Grynspan told Reuters she was concerned that UNCTAD's work will be hampered while demand for its services grows, as countries seek information on the impact of sweeping tariffs imposed by U.S. President Donald Trump. For UNCTAD's 2026 budget, Grynspan said she and her team had proposed cutting 70 posts, out of a total of about 500. "This is painful. There's no way to disguise this ... we haven't cut that number of posts ever in one budget," she said. "It really will constrain the organization and the things that we can do." U.N. agencies like UNCTAD are having to cut costs amid a financial crisis triggered in part by the U.S., which has provided nearly a quarter of the world body's funding, and longer term liquidity problems. "What worries me the most is the possibility to respond to countries in their needs fast enough," Grynspan said. Grynspan, who is part of the task force on broader UN80 reforms to improve efficiency and cut costs at the U.N., said she was involved in discussions on how to better divide tasks among the U.N's development agencies through collaboration. The U.N. Secretariat, the global body's executive arm, is preparing to slash its $3.7 billion budget by 20%. About 75 agencies and departments faced a June 13 deadline to propose budget cuts. The U.N. in Geneva is proposing leaving the historic Palais Wilson, which houses its human rights office. The final decision on UNCTAD's proposed budget will be made by the U.N. Secretariat and member states in September. (Reporting by Olivia Le Poidevin; Editing by Aidan Lewis)

UN trade agency says it faces 'painful' cuts as countries navigate tariffs
UN trade agency says it faces 'painful' cuts as countries navigate tariffs

Straits Times

time3 days ago

  • Business
  • Straits Times

UN trade agency says it faces 'painful' cuts as countries navigate tariffs

FILE PHOTO: The logo of the United Nations is seen in the General Assembly hall before heads of state begin to address the 76th Session of the U.N. General Assembly in New York City, U.S., September 21, 2021. REUTERS/Eduardo Munoz/Pool/File photo GENEVA - The United Nations trade and development agency, tasked with helping developing countries access the global economy, faces "painful" cuts as part of broader reforms prompted by a decline in global donor funding, its secretary general said. Rebeca Grynspan told Reuters she was concerned that UNCTAD's work will be hampered while demand for its services grows, as countries seek information on the impact of sweeping tariffs imposed by U.S. President Donald Trump. For UNCTAD's 2026 budget, Grynspan said she and her team had proposed cutting 70 posts, out of a total of about 500. "This is painful. There's no way to disguise this ... we haven't cut that number of posts ever in one budget," she said. "It really will constrain the organization and the things that we can do." U.N. agencies like UNCTAD are having to cut costs amid a financial crisis triggered in part by the U.S., which has provided nearly a quarter of the world body's funding, and longer term liquidity problems. "What worries me the most is the possibility to respond to countries in their needs fast enough," Grynspan said. Grynspan, who is part of the task force on broader UN80 reforms to improve efficiency and cut costs at the U.N., said she was involved in discussions on how to better divide tasks among the U.N's development agencies through collaboration. The U.N. Secretariat, the global body's executive arm, is preparing to slash its $3.7 billion budget by 20%. About 75 agencies and departments faced a June 13 deadline to propose budget cuts. The U.N. in Geneva is proposing leaving the historic Palais Wilson, which houses its human rights office. The final decision on UNCTAD's proposed budget will be made by the U.N. Secretariat and member states in September. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.

UN Urges De-Escalation Amid Israel-Iran Strikes, Warns Of Regional Consequences
UN Urges De-Escalation Amid Israel-Iran Strikes, Warns Of Regional Consequences

Barnama

time7 days ago

  • Politics
  • Barnama

UN Urges De-Escalation Amid Israel-Iran Strikes, Warns Of Regional Consequences

IAEA Director General Rafael Grossi seen on screen addresses to delegates during a meeting of the United Nations Security Council, following Israel's attack on Iran, at U.N. headquarters in New York City, U.S., June 13, 2025. REUTERS/Eduardo Munoz HAMILTON, June 14 (Bernama-Anadolu) -- The United Nations (UN) on Friday warned of serious regional and global consequences following Israel and Iran's exchange of airstrikes, urging restraint and renewed diplomatic efforts, Anadolu Ajansi reported. "The impact of these attacks has already been felt throughout the region, with neighbouring countries closing their airspace and putting their security forces on high alert," UN Under-Secretary-General for Political and Peacebuilding Affairs Rosemary DiCarlo told a Security Council emergency session on Iran. DiCarlo reaffirmed UN Chief Antonio Guterres' "condemnation of any military escalation in the Middle East" and noted the "obligation of Member States, in accordance with the UN Charter and international law, not to use force against the territorial integrity or political independence of any state." bootstrap slideshow "We must at all costs avoid a growing conflagration, which would have enormous global consequences," she said. Iran and the US were preparing to resume talks in Oman before the escalation, she said, encouraging both sides to continue diplomatic efforts. "A peaceful resolution through negotiations remains the best means to ensure the exclusively peaceful nature of Iran's nuclear programme," she noted. International Atomic Energy Agency (IAEA) Director-General Rafael Mariano Grossi also briefed the Security Council, confirming damage to parts of the Natanz enrichment facility. He said the above-ground section of the pilot fuel enrichment plant, where Iran had enriched uranium up to 60 per cent, was "destroyed." "There is no indication of a physical attack on the underground cascade hall containing part of the pilot fuel enrichment plant and the main fuel enrichment plant," he said, adding that the loss of power may have affected centrifuges.

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