Economic Development

UN expresses hope ‘new opportunities’ will arise from Sudan’s recognition of Israel

The UN chief on Saturday said he was taking note of the announcement that Sudan has agreed to normalize relations with Israel, expressing hope that further cooperation will advance international peace and prosperity.

One in six children living in extreme poverty, with figure set to rise during pandemic

An estimated one in six children – or 356 million globally – were living in extreme poverty before the COVID-19 pandemic began, and this is set to worsen significantly, according to a new World Bank Group and UN Children’s Fund (UNICEF) analysis released on Tuesday. 

IMF: ‘Less severe’ but ‘still deep’ recession predicted

In the shadow of the COVID-19 pandemic and its continuing impact, the global economy could see a “somewhat less severe, though still deep” recession through 2020, the International Monetary Fund (IMF) has projected in its latest global economic outlook. 

UN chief announces major push to transform harmful food systems

The UN chief António Guterres set out a new plan to transform the world’s food systems on Monday - coinciding with the start of World Food Week - which will culminate in a major summit, scheduled to take place in September next year.

UN chief urges ministers to provide ‘decisive leadership’ on climate action

With nations striving to recover from the COVID-19 pandemic and its devastating impacts, efforts must focus on decarbonizing the global economy and building a more inclusive and resilient future, the UN Secretary-General said on Monday.

Global trade amid COVID-19: Signs of rebound, but recovery uncertain

Global trade is showing signs of bouncing back from a deep, COVID-19-induced slump, the World Trade Organization (WTO) has said, with the caveat that any recovery could be badly disrupted by the future course of the pandemic and how societies react. 

UN Special Adviser helps align UN and Africa on sustainable development path

Helping to reshape the UN's approach to better serve the continent and merge the UN-led Sustainable Development Goals with Africa's own 2063 Agenda, are top priorities for the newly minted UN Special Adviser on Africa.

Illicit capital robbing Africa and its people of their future: UN trade and development chief

Every year, an estimated $88.6 billion, which is equivalent to 3.7% of Africa’s GDP, leaves the continent in the form of illicit capital, according to UN trade and development agency UNCTAD’s Economic Development in Africa Report 2020, launched on Monday.

Put ‘people before politics’ in Lebanon, urges Guterres, following Beirut disaster

It’s time that leaders across Lebanon put “people before politics” following last month’s explosions in Beirut port, said the UN chief on Wednesday, which must serve as a wake-up call following a year of upheaval and clamour for reform on all fronts.

Impact on workers of COVID-19 is ‘catastrophic’: ILO 

COVID-19 has had a “catastrophic” impact on workers, the head of the International Labour Organization (ILO) said on Wednesday, with lost working hours higher than originally forecast, and equivalent to 495 million full-time jobs globally in the second quarter of the year.