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
January/February 2010
Summary:
The global economy started 2010 on a positive note, with continuing recovery in?industrial production and international trade, led by Asian developing countries; however, economic policymakers may face even tougher challenges in 2010?
The significant increase in government indebtedness in Greece and other EU?countries may threaten global financial stability
Rain shortfalls in large parts of Africa will form a major threat to food security during?2010
The devastating earthquake in Haiti presents serious economic challenges, including?those of a long-term nature; addressing them will require a sustained international?effort and debt forgiveness
The world…
Monthly Briefing on the World Economic Situation and Prospects, No. 16
December 2009
Summary:
Global recovery continues, with an increasing number of countries reporting rises in output;?The recovery, however, is uneven across regions and economic and financial fragilities remain
Global trade is gaining momentum and prospects for commodity exporters have improved
Continued and better coordinated policy support is still needed to avoid a double-dip recession
The world economy is on the mend, with quarterly GDP growth rates in an increasing number of countries moving into positive?territory again and international trade and industrial production indices showing continued upward trends. While the latest debt?debacle in Dubai seems to have been contained, it…
Monthly Briefing on the World Economic Situation and Prospects, No. 15
November 2009
Summary:
According to preliminary UN estimates, the world economy will shrink by 2.2 per cent in 2009.
There are clear indications that recovery is on its way and global output may increase by 2.4 per?cent in 2010, according to the preliminary UN forecast. Recovery is still very fragile, however.
A key risk is a premature withdrawal of the stimulus measures in major economies, which presently is a key factor driving the incipient recovery. Pursuing further stimulus now while?at the same time ensuring a more sustainable and balanced global growth for the future is a?main challenge facing policy makers collectively.
After a sharp and synchronized global downturn in 2008 and…
Monthly Briefing on the World Economic Situation and Prospects, No. 14
October 2009
Summary:
The global recovery remains fragile and requires sustained policy support, as agreed by G20?leaders at the Pittsburgh Summit.
The recovery in some Asian economies has lost some of its momentum, as reflected in weaker?exports and imports.
Unemployment continues to rise worldwide.
Widespread hunger is looming in East Africa.
G20 leaders have recognized that the global recovery remains fragile over concerns that the modest signs of recovery are almost?entirely on account of the fiscal stimulus, that there are still important financial sector problems to be resolved and that unemployment remains on the rise worldwide. The leaders pledged to sustain a strong policy…
Monthly Briefing on the World Economic Situation and Prospects, No. 13
September 2009
Summary:?
The global economy shows tentative signs of a recovery, but substantial risks and uncertainties?remain. If employment growth and private investment demand do not pick up strongly before?the effects of fiscal stimuli fade out, the world economy may face a double-dip recession.
Global trade activity could recede again as final consumer demand remains sluggish.
Fiscal stimulus measures have been a major factor for the stabilization or expansion of aggregate demand across the globe, especially in a number of large developing countries.
A major food crisis is imminent in East Africa.
The world economy continues to show signs of an incipient recovery. However,…
Monthly Briefing on the World Economic Situation and Prospects, No. 12
July 2009
Summary:
The recent United Nations conference on the global financial and economic crisis proposed a comprehensive set of actions to mitigate the immediate impact of the crisis and to formulate adequate medium- and long-term responses.
Unemployment is rising rapidly across the globe, posing a key risk for a sustained recovery of the world economy.
The contraction in world trade is slowing but import demand in developed economies remains weak as policymakers focus on domestic issues.
Heads of State and Government and High Representatives of the world?s nations met on 24-26 June 2009 for the United Nations Conference on?the World Financial and Economic Crisis and its Impact on…
Monthly Briefing on the World Economic Situation and Prospects, No. 10
August 2009
Summary:?
The global recession is moderating, with trade and industrial production stabilizing and financial markets partially improving
The prospects of a true global recovery are highly uncertain as demand continues to largely depend on fiscal stimuli, unemployment rates continue to rise, and global imbalances remain large
The prospects also vary significantly across regions and individual countries. Several economies, mostly in Asia, have rebounded in the second quarter of 2009, but many other economies remain mired in recession
The economic crisis has triggered a prodigious global trade shock, equivalent to about 4 per cent of world output. Countries with a strong…
Monthly Briefing on the World Economic Situation and Prospects, No. 11
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