UN News - The UN Conference on Trade and Development (UNCTAD) reported that world economic growth is expected to decelerate from three per cent last year to 2.4 per cent through 2023, with limited signs of a rebound in 2024. These figures underscore the urgent
UN News - The global economy is set to slow down this year before bouncing back in 2024, a senior official with the International Monetary Fund (IMF) has said, citing China’s sudden re-opening following the end of its “zero-COVID” policy, and a mild winter, in
UN News - Trade growth is expected to lose momentum in the second half of this year and remain subdued in 2023 as the global economy sustains multiple shocks, such as ripple effects from the war in Ukraine, according to the latest forecast from the
The rising energy prices has prompted Antigua and Barbuda Prime Minister Gaston Browne to call out the trade embargo of the United States to Venezuela, saying that the sanctions on Venezuela are also hurting other nations in the Caribbean region. In a report by the Caribbean
UN NEWS—The Russian invasion of Ukraine has been the “main contributing factor” to the potentially devastating one per cent drop in projected global economic growth this year, UN development economists UNCTAD said on Thursday, in the body’s latest global economic update. “The main headline is a downgrading of the
UN NEWS—The global economy is entering 2022 in a weaker position than previously expected, the International Monetary Fund (IMF) announced on Tuesday, in an update to their World Economic Outlook (WEO). The institution now expects the global economy to expand from a 5.9 per cent increase in 2021
UN News - After a big drop last year caused by the COVID-19 pandemic, global foreign direct investment (FDI) reached an estimated $852 billion in the first half of 2021, showing a stronger than expected rebound. That’s according to the latest Investment Trends Monitor, released this Tuesday by the United Nations Conference on Trade and Development (UNCTAD). It shows
UN NEWS—Small businesses which make up more than half of the global workforce were 2.5 times more likely to go under than larger firms in the first months of COVID-19, the International Trade Centre (ITC) said on Wednesday, warning that the impact of climate change could cause pandemic-scale disruption
UN NEWS—Although the outlook for global growth has improved, the ongoing impacts of the COVID-19 pandemic, as well as inadequate progress on vaccination in poorer countries, are putting recovery at risk, according to the latest UN economic forecast, published on Tuesday. The World Economic Situation and Prospects (WESP) mid-year report warned widening inequality is threatening global
UN NEWS—The COVID-19 pandemic has reversed development gains for millions in poor countries, creating an even more sharply unequal world, according to a new UN report released on Thursday. “The global economy has experienced “the worst recession in 90 years, with the most vulnerable segments of
