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February 2012 Summary: ECB supporting private banks amidst fears of a credit crunch EU leaders agree on a new fiscal compact enhancing fiscal discipline Foreign reserves in Egypt hit dangerous low The sovereign debt crises continue to place stress on European banks. The value of government bonds has fallen with the lowering of?credit ratings for many European countries. This has eroded the balance sheets of banks holding substantial amounts of those assets.?Subsequently, banks have cut lending ? especially to other banks ? and have opted instead to deposit money with the European?Central Bank (ECB), even more so in the final months of 2011. As a result, liquidity available in the… Monthly Briefing on the World Economic Situation and Prospects, No. 40
January 2012 Summary: Faltering global economic growth in 2011 High unemployment is the Achilles Heel of the recovery Renewed volatility and heightened risk in financial markets in 2011 The pace of global economic growth slowed markedly in 2011. While official data covering the full year are not available for most?countries, world gross product is estimated to have increased by 2.8 per cent in 2011, compared with 4 per cent in 2010. The slowdown was most severe for developed countries, where the average growth rate was cut in half, sliding from 2.7 per cent in 2010 to 1.3?per cent in 2011. Developing country growth also decelerated by 1.5 percentage points to an average of a still robust… Monthly Briefing on the World Economic Situation and Prospects, No. 39
The World Economic Situation and Prospects 2012 cautions that the world economy is on the brink of another major downturn. Global economic growth started to decelerate on a broad front in mid-2011 and is estimated to have averaged 2.8 per cent over the last year. This economic slowdown is expected to continue into 2012 and 2013. The United Nations baseline forecast for the growth of world gross product (WGP) is 2.6 per cent for 2012 and 3.2 per cent for 2013, which is below the pre-crisis pace of global growth. Sales No. E.12.II.C.2
ISBN: 978-92-1-109164-9 Executive Summary:
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