December 2011
Summary:
Grim prospects for world economy
Premature fiscal austerity in developed countries is hampering recovery
Developing countries remain vulnerable to downturns in the developed economies
The world economy is teetering on the brink of another major downturn. Output growth already slowed considerably to an estimated 2.8 per cent in 2011. Based on relatively optimistic baseline assumptions, the United Nations foresees world gross product (WGP)?growth of 2.6 per cent for 2012 and 3.2 per cent for 2013. If the European sovereign debt crisis were to spin out of control and the?weaknesses in the United States economy interact to create a downward spiral, the world economy…
Monthly Briefing on the World Economic Situation and Prospects, No. 38
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.
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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
2011
New York, 24-26 October
Report on the Project LINK Meeting
Global Economic Outlook, October
Global Economic Outlook, June
Project LINK Meeting Document 2011
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
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The world economy continues to recover from the globa l economic crisis,…
Monthly Briefing on the World Economic Situation and Prospects, No. 32
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