Monthly Briefing on the World Economic Situation and Prospects

The Handbook on the Least Developed Country Category is prepared by the Committee for Development Policy (CDP) to provide comprehensive information on the least developed country (LDC) category. This third edition of the Handbook builds

CO2 emissions expected to reach an historical high in 2018 The low cost of coal relative to alternative energy sources is slowing progress towards energy transition in many regions Phasing out coal use requires a reliable and stable alternative energy supply, plus support to the economic and employment transition in regions dependent on coal production

Global growth may have reached a peak Firms in the United States and Japan are facing capacity constraints Manufacturing activity slows in developed and developing economies

Russian Federation commits to halving poverty by 2024 China turns to pro-growth measures to mitigate the impact of the trade disputes Fiscal pressures creating significant policy challenges in Latin America

High commodity dependence and structural barriers hindering long-term growth prospects of many developing countries; intensifying trade tensions between the major economies poses a significant risk to the global growth outlook; recent financial market turbulence exposes vulnerabilities in several developing economies

Improved economic performance in the global economy increasingly overshadowed by heightened risks and humanitarian concerns; armed conflicts a major impediment to progress on sustainable development; need for a redoubling of policy efforts to support conflict prevention and resolution

Rising levels of public debt fueling fiscal sustainability concerns in many developing countries Several countries highly vulnerable to a sharp increase in government interest burden in the event of a financial shock High debt service obligations limit the availability of resources to pursue development objectives

Global growth expected to reach 3.2 per cent in 2018 and 2019 Key downside risks to the global economy include rising trade tensions, elevated debt and uncertainty over monetary policy adjustments in the developed countries Recent strengthening of economic growth carries environmental costs

Rising trade tensions pose a risk to the global trade outlook Africa marks an historic step towards the creation of a regional trade bloc