Economic Development

Vaccine inequity posing ‘significant risk’ to global economic recovery: UN report

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. 

5 things you should know about the state of the global economy

Is this the year we overcome the global economic crisis caused by the pandemic? Are our jobs in danger? Who has lost the most in the crisis and what can be done to recover? As the UN Department of Social and Economic Affairs (DESA) prepares to launch the mid-year update of the 2021 World Economic Situation and Prospects (WESP) report, here are five things you need to know about the state of the global economy.

Free up ‘bottlenecks’ stifling Africa’s agri-food sector, urges FAO chief 

The UN agriculture chief warned on Monday that severe underfunding of Africa’s agri-food sector has boosted food insecurity and was hampering the future development of countries across the continent. 

WHO chief hails ‘monumental moment’ in COVID fight, as US throws support behind vaccine patent waiver

The head of the World Health Organization (WHO) on Wednesday said the commitment announced by the United States administration to lift vaccine patent protections to help boost global supply, was a “monumental moment” in the battle to end the deadly pandemic.

Global e-commerce jumps to $26.7 trillion, fuelled by COVID-19

Parts of the online economy have boomed since COVID-19 began, while some pre-pandemic big-hitters have seen a reversal of their fortunes in the last year, amid widespread movement restrictions, UN economists have found.

Europe: COVID must spark rethink to prioritize ‘human lives’ over economic policies 

The devastating impact of COVID-19 serves as a stark reminder that the European Union must “put human lives” above economic policy considerations, that privilege competition between EU Member States, an independent UN human rights expert said on Friday. 

‘Disasters know no borders’ says Guterres, 35 years on from Chernobyl nuclear accident

In his message for Chernobyl International Remembrance Day on Monday, the UN chief reminded that “disasters know no borders”. 

ECOSOC chief calls for financial support for small island developing states

Small island developing states (SIDS) must receive financial and international support if they are to recover from the COVID-19 pandemic and natural disasters, the President of the UN Economic and Social Council (ECOSOC), Munir Akram, said on Friday. 

ILO kicks off Green Week to ‘jump-start’ a sustainable future 

As the world grapples with the devastating economic and social consequences of the COVID-19 crisis, the UN’s labour agency launched ILO Green Week to explore what a green future of work could look like, and how we can get there. 

‘Inequality virus’ threatens ‘catastrophe for all’ unless crisis can be overcome together

The COVID-19 pandemic is leading to “an even more unequal world”, the Deputy UN chief said on Thursday, speaking at the closing session of the Financing for Development (FfD) Forum, with many lower-income countries now seeing development gains reversed.