Global Economic Monitoring Branch (GEMB)

2012 New York, 22-24 October Report on

June 2012 Summary: Growth projections for the global economy revised downward The jobs crisis continues Euro area debt crisis and rising energy prices are key risks Despite som

May 2012 Summary: Quantitative easing by developed countries imposing a tax on the rest of the world IMF resources boosted by $430 billion Unemployment continues to rise in Europe

April 2012 Summary: Developed country central banks continue monetary easing China records significant trade deficit in January and February Hungary may become first country to face EU financial sanc

March 2012 Summary: Rising oil price complicates global recovery Agreement made for second rescue package to Greece Growth slowed in India and Brazil in 2011 During most of Feb

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

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

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 ce

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 economie