financial crisis

Palestine refugee agency facing unprecedented financial crisis

The UN agency that works with Palestinian refugees, UNRWA, will delay opening its schools in the region for the first time if it fails to raise more than $100 million in the next few weeks.

Audio -

Debt crisis in affluent States threatens developing economies, UN officials warn

Two top United Nations economic bodies held their first ever joint meeting today to discuss the serious risks to developing countries and economies in transition stemming from the sovereign debt crisis currently affecting some developed countries.

Global financial crisis must be tackled through cooperation, Portugal tells UN

Portugal has called at the United Nations for concerted efforts to tackle global financial instability and create conditions for economic growth and jobs, stressing the need to correct inequalities and strengthen international monetary security.

Social investments deserve priority in economic recovery schemes – UN report

A new United Nations report finds that many governments did not pay enough attention to the social implications of the recent global financial crisis and urges that social investments be given priority in recovery programmes.

Ban praises regional cooperation in message to Eurasian security group

Secretary-General Ban Ki-moon praised today the growing cooperation between the United Nations and the Shanghai Cooperation Organization (SCO) in tackling issues such as terrorism and the global financial crisis, and called for more action to deepen ties between the two organizations.

UN trade arm brings experts together to discuss boosting infrastructure

Experts are meeting at a gathering of the United Nations agency promoting commerce to fight poverty to find ways to help developing countries improve so-called infrastructure service sectors (ISS), which serve key functions including banking, energy and transportation.

Financial crisis should spur ‘clean’ growth in developing nations – UN

Instead of belt-tightening in this time of financial crisis, resources must be redirected to spur ‘clean’ economic growth in developing nations, according to a report from the United Nations trade agency issued today.

Secretary-General calls for greater international cooperation and solidarity

Secretary-General Ban Ki-moon called for greater collective action as he marked International Solidarity Day during a year when the global financial and economic crisis may have pushed as many as 100 million people into poverty, and as the world faces challenges stemming from climate change to food insecurity.

Financial crisis eroding development gains, African leaders warn at UN

The current worldwide recession is jeopardizing strides made toward reaching development targets, African leaders told the General Assembly today, calling for imbalances in the global trade system to be rectified to ensure that developing nations can grow their economies.

UN panel calls for new global reserve, credit systems to avert future crises

A high-level United Nations commission on the world financial crisis today called for a new global reserve system that does not rely on a single currency like the dollar, a new global credit facility to complement the International Monetary Fund (IMF), and a new global coordination council that would be more inclusive than the current G20 bloc of countries.