November 2011
Summary:
EU leaders agree to scale up measures to solve the simmering debt crisis, but hurdles remain
Unemployment in developed economies still high and lasting longer
Is the G20 falling behind the curve?
In late October, European leaders held a marathon negotiating session and finally agreed on a set of measures intended to solve?the?ever-simmering debt crisis. The measures include a 50 per cent write-down of Greek debt held by the private sector, based on a voluntary arrangement between the Greek Government and concerned parties. With this in place and, given the envisaged public sector?reforms, the Greek debt-to-GDP ratio is targeted to reach 120 per cent by 2020.…
Monthly Briefing on the World Economic Situation and Prospects, No. 37
October 2011
Summary:
Equity markets worldwide plunged
Euro area dollar liquidity dries up in the midst of Europe?s sovereign debt crisis
G20 finance ministers maintain focus on fiscal consolidation
Stock markets worldwide ended September with the largest quarterly loss since the final three months of 2008, after the collapse of?Lehman Brothers bank. The recent fall has been driven by a combination of factors, including the fear of a double-dip recession in?developed economies, concerns about the contagion of the sovereign debt problems of a number of European countries, and unease?about lack of effective policy action in major economies to deal with these problems.?Equity prices in…
Monthly Briefing on the World Economic Situation and Prospects, No. 36
September 2011
Summary:
Heightened uncertainty and downside risks for the world economy caused a sell-off in equity markets
The sovereign debt crisis in the euro zone remains unabated
The jobs crisis continues
Global equity markets underwent synchronized and massive sell-offs in August and early September. Equity prices worldwide declined?on average by about 20 per cent from their peak levels a month ago. This has been the most severe sell-off since the recovery?in asset prices starting in early 2009. Prices in commodity, currency and bonds markets showed large fluctuations.
?
The financial instability has emerged amidst growing fears of a double-dip recession in major developed…
Monthly Briefing on the World Economic Situation and Prospects, No. 35
August 2011
Summary:
Economic growth is decelerating markedly in many regions; global manufacturing production?is stagnating
Equity markets have tumbled and exchange rate volatility has resurfaced with continued?sovereign debt problems and stalling economic growth prospects in the United States?and Europe
Food emergencies are affecting millions of people in Africa and Haiti
Agreements to raise the debt ceiling in the United States and create space for sovereign debt resolution in Greece and other peripheral?European countries have momentarily mollified default concerns. Yet, considerable uncertainties remain. In the United States, the agreement to raise the debt ceiling in exchange for…
Monthly Briefing on the World Economic Situation and Prospects, No. 34
July 2011
Summary:
Concerns over sovereign debt sustainability in Europe and the United States cast clouds over?global economic recovery
Oil and other primary commodity prices remain high, keeping up headline inflation and affecting?output growth in major economies
Growth is beginning to moderate in some regions which had experienced robust performance?in 2010 on the back of internal efforts to contain inflationary pressures and a receding global?demand
The prospects for continued global economic recovery are at risk. Concerns have?increased that efforts to deal with sovereign debt problems in the United States?and peripheral countries of Europe may falter. Possible defaults could…
Monthly Briefing on the World Economic Situation and Prospects, No. 33
June 2011
Summary:
The United Nations forecast for growth of the global economy was increased slightly to 3.3 per?cent in 2011 and 3.6 per cent in 2012
However, the pace of the global recovery remains uneven across countries; output growth is?strong among developing countries and feeble in many developed economies
Serious downside risks to the global recovery remain; developed economies face continued?financial sector fragility, sovereign debt distress and high unemployment rates; any developing?countries face new headwinds, including rising inflation, assets bubble risks and strong exchange?rate appreciation
?
The world economy continues to recover from the globa l economic crisis,…
Monthly Briefing on the World Economic Situation and Prospects, No. 32
May 2011
Summary:
International oil prices increased further amidst continued unrest in the Middle East
The United States dollar fell to historic lows
Many emerging and developing countries are tightening monetary policies
The value of the United States dollar continued to fall in April against a?large number of other currencies. Measured by the trade-weighted nominal?exchange-rate index vis-?-vis other major currencies, the dollar has reached?its lowest level since the 1970s. The dollar has also depreciated?against the currencies of many emerging economies. The current dollar?depreciation trend is being driven by a confluence of factors. Firstly, the?process of ?flight to safety?…
Monthly Briefing on the World Economic Situation and Prospects, No. 31
April 2011
Summary:
In addition to the massive human toll and environmental damage resulting from Japan?s triple?disaster (earthquake, tsunami and nuclear catastrophe), ensuing ripple effects are being felt on?global trade, finance and industrial growth
Unrest in North Africa and the Middle East continues to contribute to a further surge in global?energy and commodity prices
Inflationary pressures resulting from rising food and energy prices have led many Governments to?tighten monetary policies
Japan?s triple disasters (earthquake, tsunami and nuclear catastrophe) are causing?ripple effects for global trade, finance and industrial growth. Japan accounts for 9?per cent of world gross…
Monthly Briefing on the World Economic Situation and Prospects, No. 30
Welcome to the United Nations
