The 46 so-called least developed countries, or LDCs, "are in a desperate situation", United Nations Conference on Trade, Investment and Development (UNCTAD) chief Rebeca Grynspan tells reporters in Geneva, warning that they "stand on the precipice of a fiscal abyss" The UN is calling for a significant overhaul of the global financial system to help the world's poorest countries and their struggle to fill enormous financial gaps. IMAGES AND SOUNDBITES