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According to the WESP 2020, sluggish global growth threatens sustainable development; 1 in 5 countries will see per capita incomes stagnate or decline this year, notably in Africa, Latin America and parts of Western Asia; across the world, many policies continue to encourage the use of fossil fuels
As energy demand is rising globally, it is imperative to transition to clean energy; the status of natural gas as a ?transition fuel? is waning; the automotive sector in Europe is undergoing dramatic changes
Lack of innovation a key structural challenge for many developing countries; economic diversification impeded by structural barriers in the CIS and Africa; weak productivity growth contributing to bleak economic outlook in Latin America
The global commodity price shock of 2014-2016 has caused setbacks in the fight against poverty; poverty eradication in Africa by 2030 is increasingly becoming out of reach; the humanitarian crisis in Yemen is exacerbating the poverty situation
Prolonged trade tensions exacerbating the cyclical slowdown in the global economy Global automobile production contracts amid higher tariffs and policy uncertainty Further easing of macroeconomic policies as external headwinds to growth rise
Carbon pricing is a vital policy tool to address the unfolding climate crisis
Amid rising global temperatures, drought forces Australia to import wheat for the first time in a decade
Debt-for-climate swaps are an innovative?development financing instrument
ODA flows must increase to support SDG-related investment Regional integration in Africa and Asia is crucial for sustainable development China?s direct investment in Latin America slows
Trade tensions and policy uncertainty are damaging global growth prospects
Several countries continue to experience setbacks in their fight against poverty
Carbon pricing a key element in combating climate change
Many developed and developing economies take an easier monetary policy stance
VAT increase in the Russian Federation temporarily adds to inflation
Argentina imposes price controls to curb inflation
Addressing youth employment remains a policy challenge, especially in Africa
In North America, central banks pause interest rate rises despite tight labour markets
Shortage of young workers prompts Japan to relax immigration policies