Fifth UN Conference on the Least Developed Countries (LDC-V), Doha, Qatar, 5-9 March 2023
The concept of Least Developed Countries (LDCs) was first introduced by the UN in 1971. Despite international commitments and programs aimed at addressing poverty in these countries, LDCs remain some of the poorest and most vulnerable economies in the world. LDCs account for only 1.3% of global GDP and receive very little foreign investment or exports. Every ten years, the UN organizes conferences for LDCs, but the results achieved so far are weak. The first conference in 1981 led to the adoption of the Special New Programme of Action for LDCs, and in 1990, the international community committed to integrating LDCs into the international trading system
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💱 Africa Joins China’s Push to End Dollar Dominance
The global balance of financial power is shifting—and Africa is right at the heart of it. By joining China’s Cross-border Interbank Payment System (CIPS), 53 African nations can now settle trade directly in yuan, bypassing the U.S. dollar and Western clearing banks. This move not only shields economies from dollar volatility and sanctions but also gives Africa new leverage in global trade. The question is no longer if the dollar’s dominance will fade, but how Africa will shape the next era of global finance.