Economic Development

Peace dividend for Libya economy, as oil flows and Central Bank unifies exchange rate after years of deadlock

The ceasefire that halted Libya’s civil war in October has begun to pay economic dividends that should improve living standards for ordinary Libyans, with a first central bank board meeting in five years and a full resumption of oil production helping to build momentum for political change.

First glimmer of hope in decades for Black Sea and Mediterranean fish stocks

The number of fish stocks subject to overexploitation in the Mediterranean and Black Sea has fallen for the first time in decades, offering some hope that a dangerous decline can be turned around, according to a report published on Monday by the UN Food and Agriculture Organization (FAO).

Rich countries’ support for children ‘totally inadequate’: UN report

The UN Children’s Fund, UNICEF, slams the levels of financial support for children allocated by high-income countries during the pandemic as totally inadequate, in a child poverty report issued on Friday.

Developing countries raise climate ambitions to plot path out of pandemic

Developing countries are building more ambitious plans to tackle climate change, with COVID-19 stimulus packages often serving as a springboard towards a greener recovery, the United Nations Development Programme (UNDP) said on Tuesday.

Guterres spotlights ‘critical role’ of aviation in pandemic recovery, marking International Day

The UN Secretary-General has called for greater support for the aviation sector, badly hit by the COVID-19 pandemic, to allow it to better weather the global economic crisis sparked by the COVID-19 pandemic. 

Revealed: The cost of the pandemic on world's poorest countries

More than 32 million of the world’s poorest people face being pulled back into extreme poverty because of COVID-19, leading UN economists said on Thursday, highlighting data showing that the pandemic is likely to cause the worst economic crisis in decades among least developed countries (LDCs). 

COVID-19 could see over 200 million more pushed into extreme poverty, new UN development report finds

An additional 207 million people could be pushed into extreme poverty by 2030, due to the severe longterm impact of the coronavirus pandemic, bringing the total number to more than a billion, a new study from the UN Development Programme (UNDP) has found. 

COVID-19’s impact on wages is only just getting started, ILO warns

Global pressure on wages from COVID-19 will not stop with the arrival of a vaccine, the head of the International Labour Organization (ILO) warned on Wednesday, coinciding with a major report showing how the pandemic had slowed or reversed a trend of rising wages across the world, hitting women workers and the low-paid hardest.

INTERVIEW: Economic and Social Council ‘vital to promote global peace and global cooperation’

Munir Akram wears two hats. He is Pakistan’s Ambassador to the UN and was elected on 23 July as the 76th President of the Economic and Social Council (ECOSOC); one of the three main bodies that provide the backbone of the United Nations. 

FROM THE FIELD: Growing potatoes in the air: agricultural innovation in Rwanda

A Rwandan entrepreneur is pioneering the use of innovative farming technology that, he believes, is set to play a major role in feeding the growing population in his country, amid increasing pressure on arable land.