BREAKING: WORLD TRADE ORGANISATION DG ROBERTO AZEVEDO TO STEP DOWN IN AUGUST, EARLY AMID GLOBAL ECONOMIC CRISIS
World Trade Organisation Director-General Roberto Azevedo says he will step down in August, one year early amid global economic crisis.
The Director General made the announcement on Thursday, May 14 after concluding a meeting with the heads of delegation.
Azevedo's 62, first took over as head of the global trade body in 2013 and his second term is due to end in 2021.
The 62-year-old Brazilian diplomat has announced his departure at a time when the global economy and international trade is at its lowest.
The COVID-19 pandemic has caused huge losses in economies around the world.
Experts say the economy of the United States could be facing its worst recession in decades, triggered by COVID-19-related measures.
Oil prices are down, Global trade, already hit by trade tensions and uncertainties around Brexit, is expected to register "double-digit declines in trade volumes" in nearly all regions this year, the WTO said last month.
With Azevedo stepping down prematurely, pundits wonder who will take his place, but a lot of experts are betting on Africa.