Economic Development

COVID-19: Act now or risk ‘unimaginable devastation’ globally, warns UN chief

Unless countries across the world act together now, the COVID-19 pandemic will cause “unimaginable devastation and suffering around the world”, UN Secretary-General António Guterres said on Thursday at a virtual high-level meeting on financing for development.

‘Lockdown generation’ of young workers will need extra help after COVID-19, urges UN labour chief

Further evidence of the unprecedented impact of COVID-19 on the global job market has emerged in a new study by the UN labour agency, which on Wednesday said that more than one in six young people have stopped working since the onset of the pandemic.

WHO countries agree 'equitable and timely access' to coronavirus vaccine, 'comprehensive evaluation' of response

The World Health Organization (WHO) concluded the annual World Health Assembly on Tuesday, adopting a resolution that calls for an independent review of the global response to the COVID-19 pandemic, including the agency’s own performance.

UN chief renews call for COVID-19 solidarity as WHO warns ‘majority’ of world still at risk

A “massive” and combined effort by all countries is needed to tackle the COVID-19 pandemic, UN Secretary-General António Guterres said on Monday, as UN health agency head, Tedros Adhanom Ghebreyesus, insisted that “the majority of the world’s population remains susceptible to this virus”.

Coronavirus ‘grim reality’: World economy to shrink by 3.2 per cent, new UN report projects

Against the backdrop of the raging COVID-19 pandemic, the world economy in 2020 is projected to shrink by 3.2 per cent, racking up some $8.5 trillion in overall losses – wiping out nearly four years of output gains, according to a mid-year economic analysis by the United Nations.

COVID-19: The global food supply chain is holding up, for now

The unfolding COVID-19 pandemic is so far having little impact on the global food supply chain, but that could change for the worse – and soon – if anxiety-driven panic by major food importers takes hold, the World Food Programme (WFP) warned on Friday.

Low-skilled workers, developing countries at risk of steep economic decline as coronavirus advances

The global economy could shrink by up to one per cent in 2020 due to the COVID-19 pandemic, and may contract even further if restrictions on economic activities are extended without adequate fiscal responses, according to analysis released today by the UN Department of Economic and Social Affairs (DESA).

UN launches COVID-19 plan that could ‘defeat the virus and build a better world’

The UN chief launched on Tuesday a new plan to counter the potentially devastating socio-economic impacts of the COVID-19 pandemic, calling on everyone to “act together to lessen the blow to people”.

‘Solidarity, hope’ and coordinated global response needed to tackle COVID-19 pandemic, says UN chief

As public fear and uncertainty grow around the COVID-19 pandemic, “more than ever before, we need solidarity, hope and the political will to see this crisis through together,” UN Secretary-General António Guterres said on Thursday in his first virtual press conference.

New UN initiative to support financial systems that ‘work better for everyone, everywhere’

From developed to developing countries, no nation is immune from financial “gaps and vulnerabilities”, the President of the UN General Assembly said on Monday.