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UNCTAD’s Trade and Development Report 2022
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UNCTAD’s Trade and Development Report 2022 sends a clear message.
The world is headed towards a recession, unless we quickly change the current policy course.
Supply-side shocks, weakening consumer and investor confidence and the war in Ukraine have provoked a global slowdown and triggered inflationary pressures.
UNCTAD projects global growth will drop to 2.2% next year.
Yet leading central banks are raising interest rates sharply, threatening to cut growth further. And making life much harder for indebted firms, households and governments.
All regions are affected, but developing countries are most exposed; 60% of low-income countries are in or near debt distress.
To help, international financial institutions need to urgently increase liquidity and extend real debt relief.
Advanced economies should limit monetary tightening.
Global efforts should focus on bringing down the price of food, energy and fertilizers.
Governments can boost support to vulnerable groups by using targeted price controls, taxing excessive corporate profits and investing more in social services and protection.
There’s still time to avert a recession. It’s a matter of policy choices. And political will.
Explore all the action points in the report:
#DevelopmentMatters
The world is headed towards a recession, unless we quickly change the current policy course.
Supply-side shocks, weakening consumer and investor confidence and the war in Ukraine have provoked a global slowdown and triggered inflationary pressures.
UNCTAD projects global growth will drop to 2.2% next year.
Yet leading central banks are raising interest rates sharply, threatening to cut growth further. And making life much harder for indebted firms, households and governments.
All regions are affected, but developing countries are most exposed; 60% of low-income countries are in or near debt distress.
To help, international financial institutions need to urgently increase liquidity and extend real debt relief.
Advanced economies should limit monetary tightening.
Global efforts should focus on bringing down the price of food, energy and fertilizers.
Governments can boost support to vulnerable groups by using targeted price controls, taxing excessive corporate profits and investing more in social services and protection.
There’s still time to avert a recession. It’s a matter of policy choices. And political will.
Explore all the action points in the report:
#DevelopmentMatters
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