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Cover: World Economic Situation and Prospects: September 2024 Briefing, No. 184

World Economic Situation and Prospects: September 2024 Briefing, No. 184

Introduction: the return of conventional monetary policy After seeing near-zero interest rates in major economies in the aftermath of COVID-19, the world economy has experienced rapid monetary tightening since early-2022 (UNDESA, 2024a). Persistent inflationary pressures during the second half of 2021 due to stronger-than-expected recovery in demand, and supply shortages (figure 1) brought along the most aggressive monetary tightening in decades. Major central banks rapidly increased short term policy rates and began to reduce money supply and liquidity (figure 2). This rapid monetary tightening in developed economies was echoed in developing economies as well. As a result of this policy,…
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World Economic Situation and Prospects: August 2024 Briefing, No. 183 Cover

World Economic Situation and Prospects: August 2024 Briefing, No. 183


Two decades of Eastern Europe’s membership in the EU On 1 May 2004, eight countries from Eastern Europe – the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia and Slovenia – the group often referred to as EU-8, along with Cyprus and Malta, became full-fledged members of the European Union (EU). This event is often called the “Big Bang” enlargement of the EU, with the set of pre-existing members being referred to as the EU-15. To be admitted to the EU, these eight Eastern European countries introduced widespread structural changes, aligned their domestic institutions with the EU’s common market rules and regulations, adopted EU’s acquis communautaire and reoriented…
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World Economic Situation and Prospects: July 2024 Briefing, No. 182 Cover

World Economic Situation and Prospects: July 2024 Briefing, No. 182

Prices on a warming planet: The Inflationary effects of Climate Change Climate change is no longer a distant threat. Its adverse impacts on both human societies and natural ecosystems are already unfolding across the world. The year 2023 was the warmest year on record by a clear margin, and records were broken for ocean heat, sea level rise and glacier retreat. The multifaceted nature of these impacts is evident through droughts, forest fires, excessive precipitation, floods, heatwaves, hurricanes, intense frost periods, and weather that defies seasonal patterns (figure 1a). Global surface temperature has increased faster in recent decades, reaching 1.1 °C above 1961-1990 average in 2023 (…
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World Economic Situation and Prospects: June 2024 Briefing, No. 181

Enhanced global economic outlook amid persistent vulnerabilities Global macroeconomic outlook The global economic outlook has improved since the previous forecast released in January 2024. Despite the most aggressive monetary tightening in decades, a hard landing scenario of the United States economy has largely receded. Most major economies have managed to bring down inflation without increasing unemployment and triggering a recession. However, the outlook is only cautiously optimistic as higher-for-longer interest rates, debt difficulties, and escalating geopolitical risks will continue to challenge stable and sustained economic growth. Ever-worsening climate shocks continue to pose…
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Handbook on the Least Developed Country Category: Inclusion, Graduation and Special Support Measures – Fifth Edition

The Handbook on the Least Developed Country Category contains comprehensive and authoritative information on criteria defining the category, graduation procedures, and international support measures for LDCs. This revised edition reflects recent developments in the LDC category, including refinements to the LDC criteria and the progress of several countries towards graduation from the category. Moreover, it contains updated information on international support measures, including on “smooth transition” provisions for countries graduating from the LDC category The Handbook, prepared by the Committee for Development Policy (CDP) and the Department of Economic and Social Affairs (UN DESA), is…
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World Economic Situation and Prospects as of mid-2024

Near-term global economic outlook cautiously optimistic as vulnerabilities remain Full Report: English Key Messages: English Press Release: English GDP growth and inflation data: PDF, XLS GDP Growth Table: English SIDS Economic Outlook: English The global economic outlook has improved since January, with major economies avoiding a severe downturn. The world economy is now projected to grow by 2.7 per cent in 2024, instead of 2.4 per cent forecasted earlier, on the back of better-than-expected performance of the United States economy and some improvement in the outlook for several large emerging economies. The modest gain in the growth momentum is partly offset by the downward revisions of…
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2024 CDP Report, ECOSOC and GA Resolutions

Report of the Committee for Development Policy (E/2024/33, Supplement No. 13)
عربي, 中文, English, Français, Русский, Español CDP excerpts on the report by theme Innovation ecosystems for development, structural change and equity 2024 triennial review of the list of least developed countries Enhanced monitoring of countries that are graduating or have graduated from the list of least developed countries Graduation – the global context ECOSOC resolution (E/RES/2024/7) on the Report of the Committee for Development Policy
عربي, 中文, English, Français, Русский, Español GA resolution (A/RES/79/230) on the Graduation of Cambodia and Senegal from the least developed country category
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2024 Monitoring Reports

Angola Letter from the Chair of the CDP to Angola, 10 July 2023 Bangladesh Bangladesh Annual Country Report 2023 Bhutan Annual Report on the Preparation of Bhutan’s Smooth Transition Strategy (13th Plan) for Graduation from the Least Developed Countries Category Equatorial Guinea Lao People's Democratic Republic The Annual Report to the Committee for Development Policy (CDP) on the Preparation of the Smooth Transition Strategy Nepal Report on the Preparation of the LDC Graduation Transition Strategy of Nepal Saõ Tomé and Príncipe Progress Report on the Process of São Tomé and Príncipe's Graduation from the List of LDCs Solomon Islands Vanuatu
Cover: World Economic Situation and Prospects: April 2024 Briefing, No. 180

World Economic Situation and Prospects: April 2024 Briefing, No. 180

Debt Sustainability Challenges in Africa: The Role of Domestic Debt In 2024, more low-income countries are facing debt distress or are at risk of debt distress than ever before. According to the latest IMF low-income countries debt sustainability analysis, 10 countries are in debt distress, while 52 countries are at moderate or high risk of debt distress. Out of these 62 countries, 40 are in Africa. African countries have suffered gravely from global shocks such as the COVID-19 pandemic, the war in Ukraine and spillover effects of high interest rates in many developed countries, which have increased debt levels across the continent. Debt levels are particularly high in the continent’s…
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CDP Plenary 2024

Date: 4 - 8 March 2024
Place: UNHQ, New York, USA Documents Agenda Report of the Committee for Development Policy (E/2024/33, Supplement No. 13)
عربي, 中文, English, Français, Русский, Español Triennial Review of the LDC Category Infographic: LDC category at the 2024 triennial review LDC Data page Countries approaching graduation and already graduated - LDC Portal Open Session/Development Policy Seminar - Innovation ecosystems: making intellectual property work for development, equity and structural change Link to the event page Briefing to LDCs Opening remarks by Mr. Kaushal Kishore Ray (Deputy Permanent Representative for Nepal to the United Nations in New York and LDC Group…