Are rich countries trying to muzzle Unctad?

In February, the UN's counterweight to the International Monetary Fund (IMF) and the World Bank fired off a withering critique of the global financial system, calling for fundamental reform as part of a new deal that can "lift all boats" in rich and poor countries alike.

The report from the UN Conference on Trade and Development (Unctad), entitled Development-led globalisation, had no qualms about taking potshots at the IMF and the World Bank. It said the first priority is "taming finance", arguing that leaving markets to regulate themselves is both ineffectual and costly.

But Unctad's supporters fear the organisation will be muzzled if rich countries have their way. Last week, former Unctad staff accused rich countries of wanting to remove the organisation's mandate to analyse global finance – effectively removing a dissenting voice in the debate on economic policy.

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