The pandemic has redefined the world economy in ways that will deepen inequality and can only be reversed if a global transformation in attitudes towards trade and development allows the whole world to recover together, the UN trade body UNCTAD said, in a report published on Thursday.
Every year, an estimated $88.6 billion, which is equivalent to 3.7% of Africa’s GDP, leaves the continent in the form of illicit capital, according to UN trade and development agency UNCTAD’s Economic Development in Africa Report 2020, launched on Monday.
The economic fallout from COVID-19 is likely to get “much worse” before it gets better for some six billion people living in developing economies, the UN said on Monday, in an appeal for a $2.5 trillion rescue package to boost their resilience to further hardship.
The United Kingdom (UK) risks losing up to 14 per cent of its exports to the European Union (EU) in a so-called “no-deal” Brexit, according to a new study by the UN Conference on Trade, Investment and Development (UNCTAD).
Trade and employment laws which give women greater access to the economy across East Africa, can pave the way for more inclusive development and prosperity, according to a new report from the United Nations trade body.