global economy

Hard times forecast for global job recovery in 2020, warns UN labour agency chief

The impact of the COVID-19 crisis on jobs has been much worse than expected initially, the head of the UN labour agency said on Tuesday, in an appeal to Governments, workers and employers, to agree on a sustainable economic recovery plan to reduce inequalities laid bare by the pandemic.

Trade in many developing countries projected to ‘nosedive’, warns UNCTAD

Trade in many developing countries is expected to take a “nosedive” in the second quarter of 2020, owing to the unprecedented effects of the coronavirus pandemic, UN economists said on Tuesday.

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).

Bulk of developing world faces hardship, as virus exacerbates economic frailty 

Six billion people – that’s the bulk of the developing world – look set to suffer from the economic impact of the new coronavirus pandemic, the UN trade and development organization, UNCTAD, says. 

In an interview with UN News’s Daniel Johnson by Skype, UNCTAD economist Richard Kozul-Wright outlines how a radical plan worth a staggering $2.5 trillion, could help avoid some of the worst financial consequences of COVID-19.

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Coronavirus COVID-19: don’t panic, says top UN economist

As deaths continue to rise from the coronavirus outbreak, its economic consequences are becoming clearer, too.

In an interview with UN News’s Daniel Johnson, Pamela Coke-Hamilton from the UN Conference on Trade and Development, UNCTAD, highlights how the challenge posed by the disease to China’s key role in global manufacturing, will likely affect rich and poor countries alike.

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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.

Global economy: ‘we must do everything possible’ to avoid global ‘fracture’ caused by US-China tensions, urges Guterres

Tensions around global trade and technology continue to rise and the international community needs to “do everything possible” to prevent the world being split into two competing spheres, led by the United States and China. 

Amidst high trade tensions and policy uncertainty, UN cuts economic growth forecast

Against a backdrop of unresolved trade tensions, high international policy uncertainty and softening business confidence, the UN on Tuesday announced a broad-based slowdown in the global economy and cut its growth predictions. 

Toxic combination of economic woes hangs over global growth: UN expert

“A global economic downturn and a lack of political leadership are a combination that could end very badly for the world’s economy”, a leading UN financial expert has warned.  In an interview with Daniel Johnson of UN News, Richard Kozul-Wright, a globalization expert and Director with the Trade and Development agency UNCTAD, gives his assessment of the “entrenched” economic factors dragging down growth.

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Global economic growth steady but uneven, posing challenges for development

While the global economy will continue to grow at a steady pace of around three percent in 2019 and 2020, that growth is expected to be uneven and may fail to reach where it is most needed.  This is according to the 2019 World Economic Situation and Prospects Report, launched on Monday.  Dawn Holland, Chief of the Global Economic Monitoring Branch in the UN’s Department of Economic and Social Affairs (UN DESA), spoke to UN News's Liz Scaffidi.

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