Imagine your favorite global aid group suddenly having to slash its team by 14%—right when demand for its help is spiking. That’s the reality for the UN’s trade and development arm, UNCTAD, as it grapples with what its chief calls 'painful' budget cuts. 🔍
Secretary-General Rebeca Grynspan told Reuters the agency plans to eliminate 70 jobs by 2026, shrinking its workforce to 430 amid a cash crunch linked to reduced donor funding. 💸 'This will constrain what we can do,' she said, highlighting rising demand for UNCTAD’s services as countries scramble to navigate U.S.-led tariff shifts and economic uncertainty.
The cuts are part of broader UN-wide belt-tightening, with agencies ordered to propose 20% budget reductions by June. Even Geneva’s iconic Palais Wilson—home to human rights offices—could be vacated to save costs. 🏛️
Why it matters: UNCTAD helps developing nations access global markets and analyze trade policies. With tariffs rising (looking at you, 2018 Trump-era moves 👀), its role is more critical than ever. But as funding dries up, Grynspan warns response times could slow, leaving vulnerable economies in the lurch.
Final decisions on the cuts land in September. For now, the agency’s future hangs in the balance—a stark reminder of how global politics can ripple through even the most essential institutions. 🌐⚖️
