UNCTAD Calls for a Bold Global Economic Agenda

12-4-2023 Business Services https://smestreet.in/feed/ 21
Amid the ongoing World Bank-IMF spring meetings in Washington DC, the UN trade and development body, UNCTAD, calls for a bold international economic agenda to avert another lost decade for developing countries, facing a projected foregone income of $800 billion and battling unprecedented levels of debt distress.
UNCTAD’s latest  Trade and Development Report Update  to be released on 12 April shows that:

Global growth is expected to be lower than earlier projected, signalling potential economic downturn.
Developing countries face mounting debt and insufficient international support, risking another lost decade.
The banking crisis highlights long-neglected financial fragilities and regulatory weaknesses.
Declining energy costs lead to lower inflation, but elevated food prices maintain a high cost of living in many developing countries.
Growing global asymmetries threaten developing countries’ resilience, requiring stronger multilateral action and an urgent focus on sovereign debt architecture.

 
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