Economic Development

Debt relief milestone in Somalia, as World Bank, IMF, call for global payment suspension in light of COVID-19 

The top United Nations official in Somalia congratulated the Horn of Africa nation on Wednesday for achieving the benchmark set by the World Bank and the International Monetary Fund (IMF), confirming its eligibility for debt relief. 

‘Concerted efforts’ needed to meet 2030 Global Goals in Asia-Pacific region

Action to reverse the depletion and degradation of the environment across Asia and the Pacific is a top priority if the region is to stay on course to meet the Sustainable Development Goals (SDGs), according to a new United Nations report launched online, for the first time, on Tuesday.

Reaching ‘beyond the possible’ in Hawaii to meet sustainability goals

The people and government of the US state of Hawaii will reach “beyond the possible” to make the Sustainable Development Goals (SDGs) a reality; The SDGs are a set of targets agreed by countries around the world to reduce poverty, protect the planet and ensure peace and prosperity for all, by 2030. Hawaii introduced its own initiative, Sustainable Hawaii, in 2016 in support of the SDGs.

‘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.

Swift policy action, strong leadership can save millions of jobs, ‘avert the worst’ amid COVID-19 pandemic

As dire forecasts about the global economy add to the anxiety surrounding the COVID-19 pandemic, the UN’s labour agency (ILO) on Thursday offered a range of urgent measures, which, if governments act quickly, can help to protect workers in the workplace, stimulate the economy and save millions of jobs.

Rising number of young people excluded from jobs, education and training

The number of young people around the world who are neither employed, studying or in some kind of training, is on the rise, according to a new report released on Monday by the International Labour Organization (ILO).

Coronavirus update: COVID-19 likely to cost economy $1 trillion during 2020, says UN trade agency

Apart from the tragic human consequences of the COVID-19 coronavirus epidemic, the economic uncertainty it has sparked will likely cost the global economy $1 trillion in 2020, the UN’s trade and development agency, UNCTAD, said on Monday.

COVID-19: countries, businesses must safeguard human rights as virus spreads: Bachelet 

As the COVID-19 coronavirus continues to spread globally, the UN’s top human rights official appealed on Friday to put rights “front and centre” when implementing preventative measures. 

Coronavirus COVID-19 wipes $50 billion off global exports in February alone, as IMF pledges support for vulnerable nations

The extent of the damage to the global economy caused by novel coronavirus COVID-19 moved further into focus on Wednesday as UN economists announced a likely $50 billion drop in worldwide manufacturing exports in February alone.

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.