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Since the onset of COVID-19, central banks around the world, in tandem with fiscal authorities, have taken extraordinary measures to mitigate economic fallouts and support recovery. While monetary authorities have generally followed the global financial crisis playbook, the scope, size, and speed of the policy responses to the pandemic have been unprecedented. Since many central banks?especially in developed countries?had less room to reduce interest rates than in 2008, they have relied more heavily on unconventional monetary policy tools to stimulate economic activity, most notably large-scale asset purchases. Central bank purchasing of longer-term financial assets,… UN DESA Policy Brief No. 129: The monetary policy response to COVID-19: the role of asset purchase programmes
Download the PDF INTRODUCTION Climate change is one of the most pressing issues of our times. According to the World Bank Group, even if countries fulfill current emission-reduction pledges, our planet's mean temperature could rise from 0.8?C above pre-industrial levels to as high as 4?C by 2100. The heavy toll of global warming on populations across the globe from rising seas, floods and droughts to fires, heatwaves, and devastating storms, compels governments, civil society, and other stakeholders to come together and confront this reality head on. On 24 September, the Security Council discussed the climate crisis. In November 2021, the United Nations Climate Change Conference,… UN DESA Policy Brief No. 128: Addressing climate change through sport
Download the PDF After a strong recovery in 2021, global growth momentum is losing steam The World Economic Situation and Prospects (WESP) 2022 warns that global economic recovery hinges on a delicate balance amid new waves of COVID-19 infections, persistent labour market challenges, lingering supply-chain constraints and rising inflationary pressures. After a global contraction of 3.4 per cent in 2020 and following an expansion of 5.5 per cent in 2021, the highest rate of growth in more than four decades, the world economy is projected to grow by 4 per cent in 2022 and 3.5 per cent in 2023. World gross product in 2021 was 1.9 per cent higher than in 2019 but still 3.3 per cent below… World Economic Situation and Prospects: February 2022 Briefing, No. 157