December 2010
Summary:
European sovereign debt crisis is spreading to larger economies?
Increased volatility in equity and foreign exchange markets
Uneven economic recovery during the third quarter
The euro area?s sovereign debt crisis continues, despite the agreement reached on November 28th which put together a bailout package worth ?85 billion euro ($111 billion) for Ireland. European Union officials also agreed on a mechanism to smooth bond restructurings after 2013, but investors are speculating that European nations will not be able to cut deficits fast enough before that target date, especially as economic growth prospects remain gloomy.
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Monthly Briefing on the World Economic Situation and Prospects, No. 26
November 2010
Summary:
Surges in private capital flows pose challenges to emerging economies and enhance tensions over currencies
European countries go deeper into fiscal austerity
Industrial production growth is slowing worldwide
Heavy floods in Central and West Africa threaten food security
Capital inflows have been returning to emerging economies since the second?half of 2009, after a sharp decline during the height of the global financial?crisis. Portfolio investment inflows have been particularly strong. Portfolio?inflows to emerging economies are estimated to be about $150 billion in?2009 and $190 billion in 2010, well above peak levels registered before the?crisis in 2007. The…
Monthly Briefing on the World Economic Situation and Prospects, No. 25
October 2010
Summary:
Trade tensions and risks of competitive devaluations heighten amidst global economic slowdown and increased turmoil in currency markets
Sovereign debt stress returns in some European countries?
United Nations summit on MDGs secures more than $40 billion for women?s and children?s health
A decelerating global recovery and increased exchange-rate instability among?major reserve currencies have given rise to new trade tensions and could well?trigger a downward spiral of competitive devaluations. The dollar has been?sliding amidst this volatility. Representatives in the United States?Congress have recently approved legislation to impose trade sanctions on countries?China…
Monthly Briefing on the World Economic Situation and Prospects, No. 24
September 2010
Summary:
Global economic recovery is losing steam?
Flooding inflicts immense damage on Pakistan?s economy?
Wheat prices soar following drought in Russia, but no food shortage expected
There are increasing signs of a widespread deceleration in the global recovery. These are particularly alarming in the United States and Japan. The?pace of economic activity in China has also been cooling notably, although?it has been partly engineered by policy measures. Although Germany and?a few other European economies have registered a better-than-anticipated?growth rate in the past quarter, and the recovering momentum seems to?have been maintained so far in other emerging economies such…
Monthly Briefing on the World Economic Situation and Prospects, No. 23
August 2010
Summary:
World trade is nearing full recovery thanks to strong developing country growth
Yet, global economic recovery is losing speed as risk for deflation in developed economies has increased
Despite debt relief, humanitarian situation in Haiti remains alarming
The world economy has been in recovery for about a year. World trade is now?almost back to its 2008 pre-crisis level. But it has been the emerging market?economies and other developing economies that have set the pace of the recovery.?Trade flows to and from these countries already surpassed 2008 pre-crisis levels?in February and have increased further since, albeit at a slowing pace. Trade by?developed economies, in…
Monthly Briefing on the World Economic Situation and Prospects, No. 22
July 2010
Summary:
Global growth may decelerate in the second half of 2010, as the effects of both the upward inventory adjustment and fiscal stimuli fade
G20 leaders agreed to ensure a full return to growth with quality jobs, to reform and strengthen financial systems, and to create strong, sustainable and balanced global growth
China resumed more flexible exchange rate mechanism, while other East Asian Governments introduced measures to manage short-term capital inflows
World financial markets experienced another month of turbulence in June. Concerns about the sustainability of sovereign debt?in some European economies continued to linger, and there were increasing uncertainties about…
Monthly Briefing on the World Economic Situation and Prospects, No. 21
June 2010
Summary:
The world economy is rebounding but the recovery remains uneven, weak and fragile?
At the present speed of the recovery, unemployment rates will take five years to drop to pre-crisis levels
The recovery is still mainly driven by government stimulus measures; concerns about widening ?fiscal deficits are pressuring for withdrawal of stimulus, risking taking steam out of the recovery
As stressed in the recent?World Economic Situation and Prospects as of mid-2010, the world economy continues to rebound from its deepest?crisis since World War II. After contracting by 2.0 per cent in 2009, the?world economy is forecast to grow at 3.0 per cent in 2010 and 3.2 per cent?in 2011…
Monthly Briefing on the World Economic Situation and Prospects, No. 20
May 2010
Summary:
Economic recovery continues albeit unevenly. While growth is rapid in many emerging economies, it remains fragile in most advanced economies
Euro zone countries and the IMF agreed on a three-year programme worth $146 billion to support?Greece amidst drastic fiscal austerity measures and risks of contagion to other European economies
An additional stabilization scheme worth $930 billion was subsequently made available for the euro zone
The Greek crisis has morphed from a fiscal crisis in a single?country to a regional crisis for the euro zone and has sent?shock waves through stock markets worldwide. Contagion in?debt markets led sovereign bond spreads to widen…
Monthly Briefing on the World Economic Situation and Prospects, No. 19
April 2010
Summary:
Net export growth and government spending are driving the recovery in the major economies,?while China?s economy is acting as the engine of the global upturn in 2010
Most of the unconventional monetary stimulus measures undertaken in 2009 are being phased?out in line with improved conditions in credit markets
Donors pledged $9.9 billion at the UN international aid conference on Haiti to support?post-disaster reconstruction?
Net export growth, along with government spending?have led the economic recovery in developed countries?since the second half of 2009, according to the most recent economic indicators. The United States, the EU and?Japan all reported positive net…
Monthly Briefing on the World Economic Situation and Prospects, No. 18
March 2010
Summary:
The strength of the global recovery, witnessed in the second half of 2009, has been moderating and the recovery has become more uneven
Global financial markets experienced a notable turbulence in the first two months of 2010, in part as a result of increasing sovereign debt risks in Europe and elsewhere
Inflation, which edged up in developed countries in late 2009, is down again facilitating continuation of low interest-rate policies
The world economy continues its recovery from the recession, but recent indicators signal the pace of output recovery is slowing and?becoming more uneven across countries.?The economic situation in the euro area has stopped improving, in…
Monthly Briefing on the World Economic Situation and Prospects, No. 17
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