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
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Global issues: Transitioning to clean energies in a world of rising energy demand
As climate researchers, business leaders, activists and policymakers meet this month for the 25th session of the Conference of the Parties (COP 25) to the UNFCCC1, the planet will be 1?C (1.8?F) warmer than preindustrial levels and the level of carbon dioxide (CO2) in the atmosphere will have surpassed levels last seen hundreds of thousands of years ago. They will also know that…
World Economic Situation And Prospects: December 2019 Briefing, No. 133
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
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Global issues: The challenge of innovation in developing countries
The economic situation in many developing countries has deteriorated considerably in recent years. Between 2010 and 2014, aggregate GDP expanded at an average pace of 6.0 per cent, but growth slowed to an average of 4.2 per cent between 2015 and 2018. The slowdown in growth has been particularly pronounced in Africa, Latin America and Western Asia. In 2019, average GDP…
World Economic Situation And Prospects: November 2019 Briefing, No. 132
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
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Global issue: The legacy of?the global commodity price shock: Long-term output losses and poverty setbacks
The recently released Sustainable Development Goals Report 2019(1) paints a mixed picture of global progress on extreme poverty eradication. On the one hand, global poverty rates, measured as the proportion of people living below the $1.90 a day international poverty line, have continued to decline.(2) In 2018, an estimated…
World Economic Situation And Prospects: October 2019 Briefing, No. 131
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
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Global issue: Trade conflict a threat to global growth
Trade tensions between China and the United States re-escalated in August, following the announcement by the United States that it will impose tariffs on a further $300 billion of Chinese imports. In retaliation, China introduced additional tariffs on $75 billion of imports from the United States. These developments triggered sharp movements in global equity markets, a…
World Economic Situation And Prospects: September 2019 Briefing, No. 130
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
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Global issues: Climate risks and the case for internalizing the cost of CO2 emission
The rationale for carbon pricing: changing decision-making amid an unfolding climate crisis
Evidence such as historic temperature data indicates a worrying trend. In numerous countries and geographic areas, the hottest years over the last century have occurred in the last decade. At the global level, the past four years were the…
World Economic Situation And Prospects: August 2019 Briefing, No. 129
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
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Global issues
ODA flows should increase significantly to achieve the 2030 Agenda
To achieve the 2030 Agenda for Sustainable Development, the international community must embark on a path of collective efforts, including providing support to many developing countries to increase investment in numerous fields. Both upgrading and diversifying productive capacities and advancing communication, energy and transportation infrastructure remain priorities. Several countries, especially among…
World Economic Situation And Prospects: July 2019 Briefing, No. 128
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
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Global issues
Trade tensions and policy uncertainty continue to damage global growth prospects
The World Economic Situation and Prospects (WESP) as of mid-2019, launched on 21 May, stresses that high trade tensions and policy uncertainty continue to damage prospects for economic growth. The report also downgraded growth forecasts for many countries. When the WESP 2019 was launched last January, a softening in global economic activity was already evident. In…
World Economic Situation And Prospects: June 2019 Briefing, No. 127
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
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Global issues
Aligning monetary policy with the SDGs
A slowdown in global economic activity, coupled with largely benign inflationary pressures, has triggered a shift towards easier monetary policy stances across many developed and developing economies (figure 1). In March, the United States Federal Reserve (Fed) lowered its expectations from two interest rate hikes to none in 2019, and announced that it will begin to slow the pace of its balance sheet normalization. In…
World Economic Situation And Prospects: May 2019 Briefing, No. 126
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
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Global issues
Youth employment remains a policy challenge
In 2018, the global labour force comprised 3.5 billion people?3.3 billion of whom were employed. Participation in the global labour force has been steadily declining since the 1990s. This partly reflects higher life expectancy and greater retirement opportunities. Among young people (aged 15?24), the decline in labour force participation has been even more pronounced, largely…
World Economic Situation And Prospects: April 2019 Briefing, No. 125
Growing demand for leveraged loans may pose a new global financial risk
Surge in African sovereign external bond issuance raises concern
China?s recent policy easing may further increase the domestic debt level
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Global issues
The recent upsurge in leveraged loans?financial risks and productivity implications
As discussed in the World Economic Situation and Prospects 2019, high indebtedness has become a critical feature of the global economy. In the last decade, debt levels have risen visibly across countries and sectors, fuelled by ultra-loose monetary policies in major economies. Public and private debt have reached historical highs in many countries. According to…
World Economic Situation And Prospects: March 2019 Briefing, No. 124
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