UN leader Antonio Guterres on Saturday slammed the world's rich countries and energy giants for throttling poor nations with "predatory" interest rates and crippling fuel prices.
Guterres told a summit of the most deprived states on the planet that wealthy nations should provide $500 billion a year to help others "trapped in vicious cycles" that block their efforts to boost economies and improve health and education.
The summit of the 46 Least Developed Countries (LDC) is normally held every 10 years but has twice been delayed since 2021 because of the coronavirus pandemic, according to AFP.
Afghanistan and Myanmar, two of the poorest countries, are not present at the meeting in Doha because their governments are not recognized by UN members.
No leader from any of the world's major economies attended.
At the summit opening, Guterres hit out straight away at the way poor nations are treated by the more powerful.
"Economic development is challenging when countries are starved for resources, drowning in debt, and still struggling with the historic injustice of an unequal COVID-19 response," he said.
"Combatting climate catastrophe that you did nothing to cause is challenging when the cost of capital is sky-high" and the financial help received "is a drop in the bucket", said Guterres.
"Fossil fuel giants are raking in huge profits, while millions in your countries cannot put food on the table."
Guterres said the poorest nations were being left behind in the "digital revolution" and the Ukraine war had only increased prices they pay for food and fuel.
