UN Development Programme chief calls for debt relief as world nears recession

There are over 80 developing countries that are potentially debt distressed, said UNDP administrator Achim Steiner. ST PHOTO: NIRMAL GHOSH
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NEW YORK - The inordinate amount of money on weaponry being spent around the world ultimately renders countries unable to invest in things that will guarantee survival, United Nations Development Programme (UNDP) administrator Achim Steiner told The Straits Times in an exclusive interview.

"If we are going to spend one more dollar on military and defence, we should equally spend one more dollar on global cooperation and trying to reduce the reasons why we might have tensions, conflicts and unproductive competition," Mr Steiner said on Tuesday, the opening day of the United Nations General Assembly (UNGA).

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