This monthly briefing highlights that the world economy is expected to improve in 2014; that unemployment rates remain a major challenge; and downside risks to the baseline scenario persist.
For more information:
http://www.un.org/en/development/desa/policy/wesp/wesp_mb.shtml
Global economies are witnessing two-speed recovery with the US economy showing firm signs of recovery, while growth in Euro Area still languishing in sub-optimal territory. Among the Asian economies, growth in Japan and China too continues to remain tepid. We discuss this in detail in the section on Global Trends in this month’s issue of Economy Matters. In the section on Domestic Trends, we analyze that the economic condition in the present scenario is in greater disarray than it was during the breakout of the global financial crisis of 2008-09, when both government as well as the RBI were quick to respond to the challenges and brought the economy back to recovery path within no time. In Corporate Performance, we examine the sectoral performance in the last fiscal in order to find the sectors which were badly hit in the wake of the current bout of economic crisis. The Sectoral spotlight for this issue is on Agriculture, a traditionally important sector of the Indian economy because of its enormous contribution in being the provider of basic source of livelihood to the most of the population in India. However in the recent past various challenges such as low agricultural yield, declining share of public investment, and lack of technological advancements have plagued the sector. We discuss the sector’s challenges and suggest measures to bolster its output. In the Special Article, we discuss India's deteriorating external position in the last few years, manifesting itself in a steady deterioration in the current account which slipped from a surplus at the start of the last decade to a huge deficit of 4.8 per cent in 2012-13. Bulk of the deterioration in current account is attributable to the sharp rise in merchandise trade deficit over the last decade. Ultimately, for India to contain its current account deficit at a more sustainable level of 2.0-2.5 per cent of GDP, it is essential that we ensure competitiveness of our goods and services, so that our imports are contained and exports boosted.
The global economy is expected to continue expanding at a moderate pace over the coming two years, but policymakers must ensure that instability in financial markets and underlying fragility in major economies are not allowed to derail growth, according to the OECD’s latest Economic Outlook.
Global economic activity is projected to slowly gain momentum, but growth will continue
to be below potential and employment gains will remain weak, says the World Economic Situation and Prospects (WESP) 2013 mid-year update, launched on 23 May 2013.
For more information:
http://www.un.org/en/development/desa/policy/wesp/index.shtml
What is the outlook for the global economy in 2014 and beyond? Get the latest figures and updates on current trends in the first chapter of the World Economic Situation and Prospects (WESP) 2014: The global economic outlook released on 18 December 2013.
For more information: http://bit.ly/WESP
Global economies are witnessing two-speed recovery with the US economy showing firm signs of recovery, while growth in Euro Area still languishing in sub-optimal territory. Among the Asian economies, growth in Japan and China too continues to remain tepid. We discuss this in detail in the section on Global Trends in this month’s issue of Economy Matters. In the section on Domestic Trends, we analyze that the economic condition in the present scenario is in greater disarray than it was during the breakout of the global financial crisis of 2008-09, when both government as well as the RBI were quick to respond to the challenges and brought the economy back to recovery path within no time. In Corporate Performance, we examine the sectoral performance in the last fiscal in order to find the sectors which were badly hit in the wake of the current bout of economic crisis. The Sectoral spotlight for this issue is on Agriculture, a traditionally important sector of the Indian economy because of its enormous contribution in being the provider of basic source of livelihood to the most of the population in India. However in the recent past various challenges such as low agricultural yield, declining share of public investment, and lack of technological advancements have plagued the sector. We discuss the sector’s challenges and suggest measures to bolster its output. In the Special Article, we discuss India's deteriorating external position in the last few years, manifesting itself in a steady deterioration in the current account which slipped from a surplus at the start of the last decade to a huge deficit of 4.8 per cent in 2012-13. Bulk of the deterioration in current account is attributable to the sharp rise in merchandise trade deficit over the last decade. Ultimately, for India to contain its current account deficit at a more sustainable level of 2.0-2.5 per cent of GDP, it is essential that we ensure competitiveness of our goods and services, so that our imports are contained and exports boosted.
The global economy is expected to continue expanding at a moderate pace over the coming two years, but policymakers must ensure that instability in financial markets and underlying fragility in major economies are not allowed to derail growth, according to the OECD’s latest Economic Outlook.
Global economic activity is projected to slowly gain momentum, but growth will continue
to be below potential and employment gains will remain weak, says the World Economic Situation and Prospects (WESP) 2013 mid-year update, launched on 23 May 2013.
For more information:
http://www.un.org/en/development/desa/policy/wesp/index.shtml
What is the outlook for the global economy in 2014 and beyond? Get the latest figures and updates on current trends in the first chapter of the World Economic Situation and Prospects (WESP) 2014: The global economic outlook released on 18 December 2013.
For more information: http://bit.ly/WESP
This monthly briefing highlights that emerging economies face renewed financial turbulence, that US economy registered robust GDP growth in the fourth quarter of 2013 and that the last quarter of 2013 revealed a heterogeneous economic performance in the developing world.
For more information:
http://www.un.org/en/development/desa/policy/wesp/wesp_mb.shtml
Dun&Bradstreet ha publicado un Estudio sobre la Perspectiva del riesgo en la economía mundial para 2017.
Éstas son las principales conclusiones del estudio:
- La recuperación de la recesión de finales de la primera década del 2000 sigue siendo el mayor reto de los últimos tiempos.
- Se ha rebajado la previsión de crecimiento mundial de 2013 debido a la incertidumbre en torno a los indicadores cuantitativos y a los crecientes riesgos políticos, riesgos amplificados sobre los niveles de deuda de la OCDE, y el reequilibrio estructural en los mercados emergentes.
- Más optimismo en cuanto al crecimiento de América del Norte, gracias a un proceso de saneamiento acelerado.
- Además, más optimismo en cuanto a las perspectivas de crecimiento de 2014 a 2017 con respecto a la previsión de comienzos de 2013.
- Sin embargo, todavía hay vientos en contra de la flexibilización monetaria, del reequilibrio fiscal en los EE.UU. y del reequilibrio chino.
This monthly briefing highlights that anaemic economic recovery is accompanied by tame inflation in developed economies; that GDP growth is stronger than expected in the United States and that currencies in some emerging economies are under pressure again.
For more information:
http://www.un.org/en/development/desa/policy/wesp/wesp_mb.shtml
DESA News is an insider's look at the United Nations in the area of economic and social development policy. The newsletter is produced by the Communications and Information Management Service of the United Nations Department of Economic and Social Affairs in collaboration with DESA Divisions. DESA News is issued every month.
For more information: http://www.un.org/en/development/desa/newsletter/desanews/index.html
Index of Industrial Production (IIP), on the domestic front, moved into the positive territory in November 2014, signalling improvement in growth momentum. We hope that going forward, the incipient signs of revival would transform into a firm recovery especially as there is some progress in investment intentions and business confidence is on the ascendant. On the global front, slowing growth in Japan and Euro Area has increased the uncertainties in global growth.
In the current issue of Economy Matters, we analyse the economic data coming out of Japanese and Euro Area economies, in the section on Global Trends. In Domestic Trends, we analyse the trends emanating out of the recent releases on IIP, Inflation, and Balance of Payments. The Sectoral Spotlight for this issue is on the topic “Enabling 'Make in India' Through Effective Tax Reforms”. In Focus of the Month, we look at the year gone by and list out the challenges which await us in 2015.
Appended below is the link to download the November-December 2014 of Economy Matters for your ready reference:
Swedbank Economic Outlook 29 September 2009Swedbank
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
New developments cast doubts on global recovery
This monthly briefing highlights that sequestration may lead to lower growth in the United States, continuing weaknesses in the European Union, China announcing a GDP target of 7.5 per cent, while India boosts budget spending.
For more information:
http://www.un.org/en/development/desa/policy/index.shtml
The August issue of the Monthly Briefing on the World Economic Situation and Prospects highlights that economic growth is decelerating markedly in many world regions. Equity markets have tumbled and exchange rate volatility has sharply increased as sovereign debt problems in developed economies continue. Food emergencies are affecting millions of people in the Horn of Africa and Haiti.
This monthly briefing highlights that global employment remains a challenge; the United States Federal Reserve faces challenges in adjusting its monetary policy and that financial markets in emerging economies attempted to stabilize.
For more information:
http://www.un.org/en/development/desa/policy/wesp/wesp_mb.shtml
De acuerdo con el último informe difundido por Crédito y Caución, las insolvencias de muchas de las economías europeas se mantendrán muy por encima de los niveles de 2007 en 2014 y 2015.
El panorama económico mundial se ha deteriorado en los últimos seis meses. El ritmo de crecimiento en la zona euro y China ha sido más débil de lo esperado y la intensificación de la crisis geopolíticas referentes a Rusia y al Estado Islámico en Oriente Medio han minado la confianza internacional.
ABOUT THIS PUBLICATION
This Overview is based on ESADE’s Economic Report, January 2014, produced by the Department of Economics. This article was written by Prof. Josep M. Comajuncosa. The original document was produced with the support of Banc de
Sabadell.
This monthly briefing highlights that emerging economies face renewed financial turbulence, that US economy registered robust GDP growth in the fourth quarter of 2013 and that the last quarter of 2013 revealed a heterogeneous economic performance in the developing world.
For more information:
http://www.un.org/en/development/desa/policy/wesp/wesp_mb.shtml
Dun&Bradstreet ha publicado un Estudio sobre la Perspectiva del riesgo en la economía mundial para 2017.
Éstas son las principales conclusiones del estudio:
- La recuperación de la recesión de finales de la primera década del 2000 sigue siendo el mayor reto de los últimos tiempos.
- Se ha rebajado la previsión de crecimiento mundial de 2013 debido a la incertidumbre en torno a los indicadores cuantitativos y a los crecientes riesgos políticos, riesgos amplificados sobre los niveles de deuda de la OCDE, y el reequilibrio estructural en los mercados emergentes.
- Más optimismo en cuanto al crecimiento de América del Norte, gracias a un proceso de saneamiento acelerado.
- Además, más optimismo en cuanto a las perspectivas de crecimiento de 2014 a 2017 con respecto a la previsión de comienzos de 2013.
- Sin embargo, todavía hay vientos en contra de la flexibilización monetaria, del reequilibrio fiscal en los EE.UU. y del reequilibrio chino.
This monthly briefing highlights that anaemic economic recovery is accompanied by tame inflation in developed economies; that GDP growth is stronger than expected in the United States and that currencies in some emerging economies are under pressure again.
For more information:
http://www.un.org/en/development/desa/policy/wesp/wesp_mb.shtml
DESA News is an insider's look at the United Nations in the area of economic and social development policy. The newsletter is produced by the Communications and Information Management Service of the United Nations Department of Economic and Social Affairs in collaboration with DESA Divisions. DESA News is issued every month.
For more information: http://www.un.org/en/development/desa/newsletter/desanews/index.html
Index of Industrial Production (IIP), on the domestic front, moved into the positive territory in November 2014, signalling improvement in growth momentum. We hope that going forward, the incipient signs of revival would transform into a firm recovery especially as there is some progress in investment intentions and business confidence is on the ascendant. On the global front, slowing growth in Japan and Euro Area has increased the uncertainties in global growth.
In the current issue of Economy Matters, we analyse the economic data coming out of Japanese and Euro Area economies, in the section on Global Trends. In Domestic Trends, we analyse the trends emanating out of the recent releases on IIP, Inflation, and Balance of Payments. The Sectoral Spotlight for this issue is on the topic “Enabling 'Make in India' Through Effective Tax Reforms”. In Focus of the Month, we look at the year gone by and list out the challenges which await us in 2015.
Appended below is the link to download the November-December 2014 of Economy Matters for your ready reference:
Swedbank Economic Outlook 29 September 2009Swedbank
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
New developments cast doubts on global recovery
This monthly briefing highlights that sequestration may lead to lower growth in the United States, continuing weaknesses in the European Union, China announcing a GDP target of 7.5 per cent, while India boosts budget spending.
For more information:
http://www.un.org/en/development/desa/policy/index.shtml
The August issue of the Monthly Briefing on the World Economic Situation and Prospects highlights that economic growth is decelerating markedly in many world regions. Equity markets have tumbled and exchange rate volatility has sharply increased as sovereign debt problems in developed economies continue. Food emergencies are affecting millions of people in the Horn of Africa and Haiti.
This monthly briefing highlights that global employment remains a challenge; the United States Federal Reserve faces challenges in adjusting its monetary policy and that financial markets in emerging economies attempted to stabilize.
For more information:
http://www.un.org/en/development/desa/policy/wesp/wesp_mb.shtml
De acuerdo con el último informe difundido por Crédito y Caución, las insolvencias de muchas de las economías europeas se mantendrán muy por encima de los niveles de 2007 en 2014 y 2015.
El panorama económico mundial se ha deteriorado en los últimos seis meses. El ritmo de crecimiento en la zona euro y China ha sido más débil de lo esperado y la intensificación de la crisis geopolíticas referentes a Rusia y al Estado Islámico en Oriente Medio han minado la confianza internacional.
ABOUT THIS PUBLICATION
This Overview is based on ESADE’s Economic Report, January 2014, produced by the Department of Economics. This article was written by Prof. Josep M. Comajuncosa. The original document was produced with the support of Banc de
Sabadell.
This report provides an in-depth analysis of the current economic landscape in major economies, such as the USA, UK, China, India, Japan, and key alliances such as G7, BRICS, and ASEAN. Additionally, it offers forecasts for the future economic outlook.
Swedbank's Global Economic Outlook, 2010 March 18Swedbank
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
The World Economic Situation and Prospects 2012 Global economic outlook was pre-released on 1 December at UN Headquarters in New York. The report estimates growth of world gross product (WGP) at 2.8 per cent in 2011, and its baseline forecast projects growth of 2.6 per cent for 2012 and 3.2 per cent for 2013, well below pre-crisis pace of global growth. Risks for a double-dip recession have heightened, however.
Five years after the onset of the global financial crisis the world economy remains in a state of disarray. Strong expansionary monetary policies in the major developed economies have not succeeded in fostering credit creation and strengthening aggregate demand. Fiscal austerity and wage compression in many developed countries are further darkening the outlook, not only for the short term, but also for the medium term. The burden of adjustment of the global imbalances that contributed to the outbreak of the financial crisis remains with the deficit countries, thus strengthening deflationary forces in the world economy. The dominance of finance over real economic activities persists, and may even have increased further. Yet financial reforms at the national level have been timid at best, advancing very slowly, if at all. In 2008 and 2009, policymakers of several economically powerful countries had called for urgent reforms of the international monetary and financial system. However, since then, the momentum in pushing for reform has all but disappeared from the international agenda. Consequently, the outlook for the world economy and for the global environment for development continues to be highly uncertain. Some developing and transition economies have been able to mitigate the impact of the financial and economic crises in the developed countries by means of expansionary macroeconomic policies. But with the effects of such a response petering out and the external economic environment showing few signs of improvement, these economies are struggling to regain their growth momentum. Prior to the Great Recession, exports from developing and transition economies grew rapidly owing to buoyant consumer demand in the developed countries, mainly the United States.
OVERVIEW Five years after the onset of the global financial crisis the world economy remains in a state of disarray. Strong expansionary monetary policies in the major developed economies have not succeeded in fostering credit creation and strengthening aggregate demand. Fiscal austerity and wage compression in many developed countries are further darkening the outlook, not only for the short term, but also for the medium term. The burden of adjustment of the global imbalances that contributed to the outbreak of the financial crisis remains with the deficit countries, thus strengthening deflationary forces in the world economy. The dominance of finance over real economic activities persists, and may even have increased further. Yet financial reforms at the national level have been timid at best, advancing very slowly, if at all. In 2008 and 2009, policymakers of several economically powerful countries had called for urgent reforms of the international monetary and financial system. However, since then, the momentum in pushing for reform has all but disappeared from the international agenda. Consequently, the outlook for the world economy and for the global environment for development continues to be highly uncertain. Some developing and transition economies have been able to mitigate the impact of the financial and economic crises in the developed countries by means of expansionary macroeconomic policies. But with the effects of such a response petering out and the external economic environment showing few signs of improvement, these economies are struggling to regain their growth momentum. Prior to the Great Recession, exports from developing and transition economies grew rapidly owing to buoyant consumer demand in the developed countries, mainly the United States.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Signature content of MTBiz is its Article of the Month (AoM), as depicted on Cover Page of each issue, with featured focus on different issues that fall into the wide definition of Market, Business, Organization and Leadership. The AoM also covers areas on Innovation, Central Banking, Monetary Policy, National Budget, Economic Depression or Growth and Capital Market. Scale of coverage of the AoM both, global and local subject to each issue.
MTBiz is a monthly Market Review produced and distributed by Group R&D, MTB since 2009.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
The Economic and Social Council will hold its Special high-level meeting with the World Bank, International Monetary Fund, the World Trade Organization and the United Nations Conference on Trade and Development on 14 and 15 April at the United Nations Headquarters, New York. The overall theme of the meeting will be “Coherence, coordination and cooperation in the context of financing for sustainable development and the post-2015 development agenda”.
For more information:
http://www.un.org/esa/ffd/ecosoc/springmeetings/2014/index.htm
Global economic outlook due to covid 19M S Siddiqui
Global coordination and cooperation-of the measures needed to slow the spread of the pandemic, and of the economic actions needed to alleviate the economic damage, including international support-provide the greatest chance of achieving public health goals and enabling a robust global recovery.
Today, 54 per cent of the world’s population lives in urban areas, a proportion that is expected to increase to 66 per cent by 2050. Projections show that urbanization combined with the overall growth of the world’s population could add another 2.5 billion people to urban populations by 2050, with close to 90 percent of the increase concentrated in Asia and Africa, according to a new United Nations report launched on 10 July 2014.
Millions of people’s lives have improved due to concerted global, regional, national and local efforts to achieve the Millennium Development Goals (MDGs), which serve as the foundation for the next global development agenda, according to the report launched by the Secretary-General on 7 July 2014.
For more information:
http://www.un.org/en/development/desa/publications/mdg-report-2014.html#more-873
DESA News is an insider's look at the United Nations in the area of economic and social development policy. The newsletter is produced by the Communications and Information Management Service of the United Nations Department of Economic and Social Affairs in collaboration with DESA Divisions. DESA News is issued every month.
For more information:
http://www.un.org/en/development/desa/newsletter/desanews/2014/08.html
DESA News is an insider's look at the United Nations in the area of economic and social development policy. The newsletter is produced by the Communications and Information Management Service of the United Nations Department of Economic and Social Affairs in collaboration with DESA Divisions. DESA News is issued every month.
For more information:
http://www.un.org/en/development/desa/newsletter/desanews/2014/07.html
DESA News is an insider's look at the United Nations in the area of economic and social development policy. The newsletter is produced by the Communications and Information Management Service of the United Nations Department of Economic and Social Affairs in collaboration with DESA Divisions. DESA News is issued every month.
For more information:
http://www.un.org/en/development/desa/newsletter/desanews/2014/06.html
DESA News is an insider's look at the United Nations in the area of economic and social development policy. The newsletter is produced by the Communications and Information Management Service of the United Nations Department of Economic and Social Affairs in collaboration with DESA Divisions. DESA News is issued every month.
For more information:
http://www.un.org/en/development/desa/newsletter/desanews/2014/05.html
DESA News is an insider's look at the United Nations in the area of economic and social development policy. The newsletter is produced by the Communications and Information Management Service of the United Nations Department of Economic and Social Affairs in collaboration with DESA Divisions. DESA News is issued every month.
For more information:
http://www.un.org/en/development/desa/newsletter/desanews/2014/04.html
DESA News is an insider's look at the United Nations in the area of economic and social development policy. The newsletter is produced by the Communications and Information Management Service of the United Nations Department of Economic and Social Affairs in collaboration with DESA Divisions. DESA News is issued every month.
For more information:
http://www.un.org/en/development/desa/newsletter/desanews/2014/03.html
E-government—digital interactions between governments and people—varies greatly among and within regions, but most countries are making progress on providing greater access, according to the 2014 UN E-Government Survey launched today. The findings show that the Republic of Korea tops the global e-government ranking, and that Europe remains first among regions.
The report also shows that many countries are expanding electronic participation, utilizing more mobile and social media tools, expanding usage and making more government data available online. However, challenges remain, such as lack of resources, digital inequalities and a lack of leadership for e-government.
“E-government holds tremendous potential to improve the way that governments deliver public services and enhance broad stakeholder involvement in public service,” said Wu Hongbo, Under-Secretary-General for Economic and Social Affairs and Secretary-General for the International Conference on Small Island Developing States.
For more information: http://unpan3.un.org/egovkb#.U7HG_PldVlq
This monthly briefing highlights that financing conditions improve in euro area peripheral countries and in emerging economies, that the US economy bounces back after a difficult first quarter and that China’s first-quarter GDP growth is the slowest in two years.
For more information:
http://www.un.org/en/development/desa/policy/wesp/wesp_mb.shtml
The World Youth Report 2013—Youth Migration and Development is the product of the efforts, contributions and support of many people and organizations. From the outset, the process of developing the Report involved a range of participatory
consultations designed to draw on the perspectives of youth on how migration affects them. These consultative sessions
included a five-week e-consultation process, a survey on youth migration and development, a call for visual art
illustrating the daily life experiences of young migrants as well as youth initiatives on migration and development,
and a Google+ Hangout held on 6 March 2013 to identify sustainable solutions for addressing youth migration challenges.
For more information: http://www.unworldyouthreport.org/
The global economy is expected to strengthen over the next two years, despite a downgrade of growth prospects for some developing economies and economies in transition, according to the UN World Economic Situation and Prospects (WESP) 2014 mid-year update, launched on 21 May, 2014. Global growth has been revised slightly lower from the forecasts presented in the WESP 2014. Growth of world gross product (WGP) is now projected at 2.8 per cent in 2014 and 3.2 per cent in 2015, up from 2.2 per cent in 2013. However, this pace of expansion is still low compared to the growth path before the 2008 global financial crisis.
For more information: http://www.un.org/en/development/desa/policy/wesp/index.shtml
The slides contain the detailed maps and graphs of World Fertility Patterns 2013 wall chart which presents the latest data available on indicators of fertility patterns at the national, regional and world levels.
For more information:
http://www.un.org/en/development/desa/population/publications/fertility/fertility-patterns-2013.shtml
The slides contain the detailed maps and graphs of World Contraceptive Patterns 2013 wall chart which presents the latest data available on two of the indicators under Millennium Development Goal 5 to improve maternal health: contraceptive prevalence and unmet need for family planning. Estimates of specific contraceptive methods used in major areas and sub-regions of the world are also presented.
For more information: http://www.un.org/en/development/desa/population/publications/family/contraceptive-wallchart-2013.shtml
This monthly briefing highlights how the world economy is struggling to gain momentum, emerging economies facing policy dilemma in trying to stabilize currencies and the G20 meeting making a call for new measures to lift growth and create jobs.
For more information:
http://www.un.org/en/development/desa/policy/wesp/wesp_mb.shtml
Published by the Division for Social Policy and Development (DSPD) of UN DESA, the report places special focus on policy and disadvantaged social groups, in addition to examining the consequences of high inequality. “Much can be learnt from those countries that managed to reduce inequality even under an uncertain and volatile global environment,” said Mr. Wu Hongbo, UN DESA’s Under–Secretary-General. “The international community can play a role in providing support to policies that help reduce inequality.”
A unique contribution of the report is that it brings special attention to the disparities that are experienced by five specific social and population groups – youth, indigenous peoples, older persons, persons with disabilities and migrants – and also illustrates how such disparities intersect with and reinforce one another.
The report illustrates that growing inequalities can be brought to a stop by integrated policies that are universal in principle while paying particular attention to the needs of disadvantaged and marginalized populations. It reminds world leaders that, in addressing inequalities, policy matters.
For more information:
http://undesadspd.org/ReportontheWorldSocialSituation/2013.aspx
DESA News is an insider's look at the United Nations in the area of economic and social development policy. The newsletter is produced by the Communications and Information Management Service of the United Nations Department of Economic and Social Affairs in collaboration with DESA Divisions. DESA News is issued every month.
For more information:
http://www.un.org/en/development/desa/newsletter/desanews/2014/02.html
The World Economic Situation and Prospects 2014 reports that the global economy is improving but remains vulnerable to new and old headwinds. Global economic growth is forecast to accelerate from a sluggish 2.1 per cent in 2013 to 3.0 per cent in 2014 and 3.3 per cent in 2015. The report warns of the risks associated with the upcoming unwinding of quantitative easing programs in major developed economies.
For more information: http://bit.ly/WESP
DESA News is an insider's look at the United Nations in the area of economic and social development policy. The newsletter is produced by the Communications and Information Management Service of the United Nations Department of Economic and Social Affairs in collaboration with DESA Divisions. DESA News is issued every month.
For more information: http://www.un.org/en/development/desa/newsletter/desanews/index.html
International Human Solidarity Day serves to remind us about the importance of solidarity for the achievement of the international agreements on social development, including programmes of action of international conferences and multilateral accords. The theme in 2013 is "Bridging the gaps to reach the Millennium Development Goals".
For more information:
http://undesadspd.org/InternationalDays/InternationalHumanSolidarityDay/2013.aspx
More from Department of Economic and Social Affairs (UN DESA) (20)
El Puerto de Algeciras continúa un año más como el más eficiente del continente europeo y vuelve a situarse en el “top ten” mundial, según el informe The Container Port Performance Index 2023 (CPPI), elaborado por el Banco Mundial y la consultora S&P Global.
El informe CPPI utiliza dos enfoques metodológicos diferentes para calcular la clasificación del índice: uno administrativo o técnico y otro estadístico, basado en análisis factorial (FA). Según los autores, esta dualidad pretende asegurar una clasificación que refleje con precisión el rendimiento real del puerto, a la vez que sea estadísticamente sólida. En esta edición del informe CPPI 2023, se han empleado los mismos enfoques metodológicos y se ha aplicado un método de agregación de clasificaciones para combinar los resultados de ambos enfoques y obtener una clasificación agregada.
Here is Gabe Whitley's response to my defamation lawsuit for him calling me a rapist and perjurer in court documents.
You have to read it to believe it, but after you read it, you won't believe it. And I included eight examples of defamatory statements/
03062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
04062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
‘वोटर्स विल मस्ट प्रीवेल’ (मतदाताओं को जीतना होगा) अभियान द्वारा जारी हेल्पलाइन नंबर, 4 जून को सुबह 7 बजे से दोपहर 12 बजे तक मतगणना प्रक्रिया में कहीं भी किसी भी तरह के उल्लंघन की रिपोर्ट करने के लिए खुला रहेगा।
01062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
An astonishing, first-of-its-kind, report by the NYT assessing damage in Ukraine. Even if the war ends tomorrow, in many places there will be nothing to go back to.
31052024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
Monthly Briefing on the World Economic Situation and Prospects (WESP), No. 62
1. Development Policy and Analysis Division w Department of Economic and Social Affairs
World Economic Situation and Prospects
Monthly Briefing
1 January 20141
No. 62
Global issues
Summary
World economy is expected to improve in 2014
Global economic growth is projected to increase over the next two
years, building on the recent improvement in developed and major
emerging economies. The global economy is expected to grow at a
pace of 3.0 per cent in 2014 and 3.3 per cent in 2015, compared
with an estimated growth of 2.1 per cent for 2013.
Although the world economy experienced subdued growth
for a second consecutive year in 2013, some improvements in the
latter part of the year have led to a more positive forecast. In the
United States of America, fiscal tightening and a series of political
gridlocks over budgetary issues weighed heavily on the economy in
2013, but monetary policy has been largely accommodative. Assuming a smooth tapering of the quantitative easing, gross domestic product (GDP) is expected to accelerate in the United States in
2014-2015. The European Union (EU) finally ended a protracted
recession in the second quarter of 2013, led by net exports. Despite a better economic outlook, GDP growth in the EU will be
constrained by several factors, including austerity programmes and
low intraregional and extraregional demand. Although the Euro-
10
8
6
4
2
0
-2
-4
-6
-8
2006
2007
2008
Developed
economies
Source: UN/DESA.
2009
2010
Economies
in transition
2011
2012
Developing
economies
2013
pean Central Bank has lowered interest rates to historical lows,
lending conditions remain tight for peripheral economies, such as
Greece, Portugal and Spain. Japan has been growing at a faster pace
in 2013, boosted by expansionary policy packages, including fiscal
packages and large-scale asset purchases by the central bank. The
anticipated increase in the consumption tax rate over the next two
years is expected to curb growth in 2014. Other developed economies, such as Australia, Canada, and New Zealand, are also expected to grow at a faster pace during the outlook period. A few large
emerging economies, including Brazil, China and India, managed
to backstop the deceleration they experienced in the past two years
and veered upwards moderately (see more detailed analysis of the
economic outlook in the regional sections).
High unemployment remains a major challenge
in developed economies
FIGURE
ACCELERATION OF GROWTH IN ALL MAJOR GROUPS OF ECONOMIES
-10
ƒƒ World economy is expected to improve in 2014
ƒƒ Unemployment rates remain a major challenge
ƒƒ Downside risks to the baseline scenario persist
2014
2015
A challenging global employment situation persists. In addition to
high unemployment levels, the depth and length of labour market
imbalances is leading to long-term and structural unemployment,
becoming more than a mere cyclical issue. As long-term unemployment increases, labour force participation declines, masking real
unemployment rates. Discouraged workers may join the labour
market only after employment creation accelerates. Among specific social groups, young people have been particularly affected by
the financial crisis. The world youth unemployment rate is close to
13 per cent, at least one-third of whom officially qualify as “longterm” unemployed, after finishing their educational and training
programmes.
In the United States the unemployment rate has been declining, from a peak of 10 per cent in 2010 to 7 per cent by the end of
2013, but this is still historically high. In the euro area as a whole,
the unemployment rate stabilized at 12.2 per cent in 2013. The situation is particularly dramatic in some countries, such as Greece
and Spain, where unemployment rates are about 27 per cent, as well
as in Portugal with a rate of about 17 per cent. The main concern
1 This issue summarizes the key messages in chapter I of World Economic Situation
and Prospects 2014.
Note for the Secretary-General prepared under the general guidance of ASG Shamshad Akhtar by a team in Global Economic Monitoring Unit including Pingfan Hong (Chief),
Sergio P. Vieira (coordinator), Clive Altshuler, Grigor Agabekian, Hung-Yi Li, Matthias Kempf, Ingo Pitterle, Pierre Kohler, John Winkel and Sebastian Vergara, supported by Mary
Lee Kortes, Rachel Babruskinas, Leah C. Kennedy, Cordelia Gow, and Ann D’lima.
Contact email: hong@un.org, http://www.un.org/en/development/desa/policy/wesp/wesp_mb.shtml
2. over the forecast period is the expected slow progress in reducing
unemployment, as GDP growth will not be strong enough to create
job growth. The employment-to-population ratio has not recovered
either, after falling sharply in the aftermath of the Great Recession.
In developing economies, the unemployment situation is
mixed. In North Africa and Western Asia, structural unemployment rates are particularly high. In South Africa and in some Caribbean countries, unemployment rates are also high. But in a great
number of developing economies, unemployment rates remain low.
They remain below 3 per cent in several East Asian countries, such
as Malaysia, Thailand and Viet Nam. In Latin America, unemployment is relatively low, at about 6 per cent in Brazil and Mexico.
In the Commonwealth of Independent States (CIS), the Russian
Federation is experiencing an historical low unemployment rate of
5-6 per cent.
A number of countries have been making concerted efforts
at addressing the labour market crisis, but additional policy action
is required. Particularly in developed economies, Governments
need to minimize uncertainty, in order to foster private investment
and job creation. In the specific case of the EU, access to credit
for small- and medium-sized enterprises is essential, as they play a
significant role in job creation. Policy measures to tackle structural unemployment are also needed, particularly related to skill and
occupational mismatches. Training activities are practical examples
for addressing long-term unemployment in particular. And specific
policies to stimulate youth employment and limit the concerns over
a lost generation are urgently needed.
Major risks and uncertainties to the baseline scenario exist
Although the economic recovery seems to be gaining momentum,
the baseline outlook presented in the World Economic Situation
and Prospects 2014 is subject to a number of uncertainties and
risks, mostly on the downside.
A major risk is associated with the unwinding of the expansionary monetary policies by central banks of major developed
economies over the course of 2014-2015. As observed during the
mini–financial crisis of mid-2013, the mere announcement of
plans to taper its purchase of assets by the United States Federal
Reserve (Fed) triggered global financial turmoil. Both equity and
bond markets worldwide experienced a sharp sell-off. The shocks
to emerging markets were more pronounced, leading to substantial
declines of capital inflows for the first time since 2009. Unwinding
represents even higher risks for the world economy, as it implies
withdrawing liquidity from the economy, while tapering continues
to add liquidity.
Emerging economies, particularly those with large external
and fiscal deficits, are vulnerable to the adverse spillover effects from
the unwinding of quantitative easing by major central banks.
In the euro area, systemic risks have abated, but both the
banking sector and the real economy remain fragile. A large number of banks still have weak balance sheets, particularly in the
southern region, and could face insolvency. This has heightened the
urgency to create a region-wide banking union, but the form this
union would take is far from resolved. In addition, the dangerous
feedback loop between fiscal consolidation and economic weakness
2
remains a risk. The fiscal targets are challenging for some countries
and will continue to hinder recovery.
In the United States, the Government managed to reach an
agreement on the budget, but uncertainties remain about the debt
ceiling and other fiscal issues for 2014. If the debt ceiling were not
raised, the federal Government would be forced to cut expenditures and possibly default on the debt. That would have devastating
consequences not only for the United States, but also for the world
economy, as the dollar is the major international reserve currency
and half of the government debt is held by foreign economies and
institutions, including foreign central banks.
Developed economies
The United States: better economic outlook, but downside
risks remain
The economy of the United States is estimated to have grown at a
meagre pace of 1.6 per cent in 2013, significantly lower than the
2.8 per cent of 2012. Looking ahead, GDP is expected to grow by
2.5 and 3.2 per cent in 2014 and 2015, respectively, based on the
assumption that the debt ceiling will be raised and the future unwinding of the monetary easing will be smooth. Private consumption is projected to expand by about 2.5 and 2.7 per cent in 2014
and 2015, respectively, while the pace of fixed investment is expected to pick up. Both the trade deficit and the current-account deficit
are expected to stay at their current ratios relative to GDP in 20142015. The federal funds interest rate is anticipated to remain within
the range of 0.0-0.25 per cent until mid-2015. The Fed is expected
to gradually reduce the amount of its purchases during 2014. Fiscal
policy is likely to remain restrictive, but less severe than in 2013.
Government spending in real terms will be flat in 2014-2015. Risks
are associated with fiscal and monetary policies. Political wrangling
over fiscal issues may continue to linger in the coming years if public finance is not put on a sustainable path. The Fed is facing a
dilemma: purchasing long-term assets for too long could cause asset
bubbles, but tapering off too quickly might choke the economic
recovery and destabilize financial markets.
Developed Asia: Japan is out of deflation with mild recovery
A new set of bold stimulus policies has boosted economic growth in
Japan and ended a decade of deflation. GDP is estimated to grow
by 1.9 per cent in 2013, by 1.5 per cent in 2014, and by 1.2 per cent
and 2015. Fiscal policy actions include a 10.3 trillion yen supplemental budget for the 2013 fiscal year and 5 trillion yen for 2014
to compensate for the negative impacts of the higher consumption
tax, which will be increased in April 2014. The Bank of Japan (BoJ)
announced the new Quantitative and Qualitative Monetary Easing
policy (QQME) on 4 April 2013. With the large-scale purchasing
of government bonds, the BoJ expects to bring down the yields of
longer-term securities. The ultimate goal is to increase the annual
consumer price index inflation rate to 2 per cent. The introduction
of QQME has changed inflation expectations of economic agents,
and the sharp depreciation of the Japanese yen has also put upward
pressure on the prices for imported goods. The annual inflation rate
is forecast to increase to 2.0 per cent for both 2014 and 2015.
Monthly Briefing on the World Economic Situation and Prospects
3. Western Europe: growth is expected to pick up gradually
Economies in transition
The crisis in the euro area has cooled considerably, but remains
a significant risk factor for the world economy. Western Europe
only emerged from recession in the second quarter of 2013, after
six consecutive quarters of declining GDP. Activity in the region
is expected to slowly pick up over the next few years, but with
significant differences across countries. In the EU-15, given the
very poor starting point, GDP is expected to decline by 0.1 per
cent in 2013, but strengthen to 1.4 per cent and 1.8 per cent in
2014 and 2015, respectively. Among the large countries, the United Kingdom of Great Britain and Northern Ireland is expected
to grow by 1.4 per cent in 2013 and strengthen to 2.2 per cent in
2014, while Germany and France are expected to grow by 0.4 per
cent and 0.1 per cent respectively in 2013, but pick up to 1.9 per
cent and 0.8 per cent in 2014. The crisis countries are showing
signs of turning the corner, but they remain in delicate positions.
The region as a whole continues to face significant headwinds:
fiscal austerity programmes, while lessened in intensity, remain in
force; intraregional demand is still exceptionally low, while extraregional demand has slowed; balance-sheet repair is still an ongoing process for banks, non-financial corporations and households,
which places a significant drag on consumption and investment
spending; and lending conditions are heterogeneous, with bank
credit amply available in some countries, while conditions remain
extremely tight in others. The sharp deceleration of inflation at the
end of 2013 points to some risks of deflation.
CIS and Georgia: slowdown follows tepid recovery
The new EU members: tentative green
shoots of recovery
Many of the new EU member States from Eastern Europe continued negative economic trends in the first half of 2013, but the
outlook for the region has improved with the euro area’s return
to positive growth in the second quarter of 2013. In 2013, the
aggregate GDP growth for the region is estimated at 0.5 per cent.
The speed of economic expansion should strengthen in 2014 and
2015 to 2.1 per cent and 2.7 per cent respectively. A more robust growth is needed, however, to return these countries to the
path of sustainable convergence with the income levels of their
EU-15 peers.
For most of the region, with the exception of the Baltic
States and Hungary, growth in 2013 was largely driven by net
exports, as domestic demand remained suppressed by high unemployment, stagnant real wages and the ongoing fiscal consolidation. The prospects for 2014-2015 still look basically positive.
However, while private consumption may pick up in the nearterm, investment is likely to remain subdued. Inflation markedly weakened over the course of the year, reaching record lows in
several countries. Although unemployment may slightly decline
in 2014 and in 2015, its structural nature in the region will impede serious employment gains. In 2013, monetary policy was the
main macroeconomic tool used to bolster economic activity in the
countries with flexible exchange rates and policy interest rates at
record lows. However, credit growth in the region remains either
anaemic or negative.
The post-crisis economic expansion in the CIS area began to moderate in 2012 and further slowed down in 2013. The global economy continues to provide a challenging environment for these economies, characterized by weak external demand and difficulties in
accessing external finance. Sluggish growth in the Russian Federation has had a dampening effect on economic activity throughout
the region. Nevertheless, all of the CIS, especially the other energy-exporting countries, have sustained growth, except for Ukraine,
which flat-lined in 2013. The aggregate GDP of CIS and Georgia
expanded at about 2.0 per cent in 2013. Economic activity is expected to strengthen modestly in 2014, with aggregate output of
the area expanding by 3.4 per cent, and to recover more solidly in
2015, with a growth rate of 4.0 per cent. In the Russian Federation,
where GDP growth has already slowed to 3.4 per cent in 2012, the
economic slowdown has been driven by weak investment, despite
public support for infrastructure development. Net private capital
outflows persisted in 2013. Similar to 2012, inflationary trends in
the CIS area diverged in 2013, with inflation rates recorded at close
to double-digit res in Central Asia and a near-zero inflation rate
registered in Georgia and Ukraine.
South-Eastern Europe: moderate growth, but high
unemployment and financial vulnerabilities
Real economic activity in South-Eastern Europe turned positive
in 2013, after experiencing a decline in GDP of almost 1 per cent
in 2012. Growth should pick up slightly in 2014, owing largely to
the improving growth prospects in the EU. The aggregate GDP of
South-Eastern Europe increased by 1.8 per cent in 2013. Growth is
projected to accelerate to 2.6 per cent in 2014, provided the tentative recovery in the EU strengthens, and 3.1 per cent in 2015, along
with gradual recovery in FDI flows and domestic demand. However, growth at these subdued rates will not be sufficient to address
the region’s long-standing needs for reindustrialization, to significantly lower the region’s exceedingly high rates of unemployment
that have plagued it since the 1990s, and to increase the labour
force participation ratio. Growth at these rates is also not sufficient
to warrant the large current-account deficits in the region.
Developing economies
Africa: growth will accelerate during the forecast period
Africa’s growth prospects remain relatively strong, with the GDP
growth rate projected to accelerate from 4.0 per cent in 2013 to
4.7 per cent in 2014. Some of the pickup in growth is expected to
come as a result of reversals of slowdowns due to particular circumstances. But medium-term growth prospects are expected to be
supported by improvements in the global and regional economic
environment, and by relatively high commodity prices. Other important factors for Africa’s medium-term growth prospects include
increasing domestic demand (especially from a growing class of
new consumers associated with urbanization and rising incomes),
easing infrastructural constraints, and improvements in economic
Monthly Briefing on the World Economic Situation and Prospects
3
4. governance and management. Inflation across Africa is expected to
decelerate slightly from an average of 8.0 per cent in 2013 to 7.8
per cent in 2014, owing to a variety of factors, including moderating international food and fuel prices and monetary policy that is
tightening in most African countries, despite increased investment
in infrastructure. Although the growth picture is positive for many
African countries, the employment situation remains a major problem across the region, both in terms of the level of employment as
well as the quality of jobs that are generated.
East Asia: solid growth expected for 2014-2015, supported
by recovery in exports
After slowing markedly in 2011 and 2012, economic growth in
East Asia stabilized over the past year. While East Asia remained
the fastest-growing region in the world in 2013, economic activity
was adversely affected by continued sluggish demand in developed
economies, the gradual adjustment to lower growth in China, and
weakening consumption and investment demand in several countries, including Indonesia, Malaysia and Thailand. China’s economy
is estimated to have grown by 7.7 per cent in 2013, the same pace as
in 2012, but well below the double-digit growth rates recorded for
much of the past decade. The region’s high-income and strongly export-oriented economies—Hong Kong Special Administrative Region of China, the Republic of Korea, Singapore and Taiwan Province of China—saw a moderate recovery in growth as net exports and
investment performed slightly better than in 2012. Average GDP
growth in the region stood at 6.0 per cent in 2013. A further mild
pickup in regional growth to 6.1 per cent is forecast for 2014 and
2015, supported by a gradual export recovery amid improving conditions in developed countries. In most East Asian economies, private
consumption and investment will likely continue to expand robustly, supported by stable labour market conditions, low inflation and
fairly accommodative monetary policies. Fiscal policies are expected
to remain moderately expansionary, providing support for growth.
South Asia: regional growth projected to pick up gradually,
driven by recovery in India
Economic growth in South Asia remained lack-lustre over the past
year as a combination of internal and external factors hampered activity, particularly in the region’s large countries (India, the Islamic
Republic of Iran and Pakistan). India’s economy, which accounts
for over 70 per cent of total output in South Asia, slowed further
in 2013, held back by weak household consumption and sluggish
investment. South Asia’s combined gross domestic product is estimated to have grown by 3.9 per cent in 2013. The weak growth
performance has taken its toll on labour markets as evidenced by
rising unemployment and declining labour force participation in
several countries. Looking ahead, regional GDP growth is forecast
to pick up gradually to 4.6 per cent in 2014 and 5.2 per cent in
2015. The recovery will likely be led by stronger external demand,
a moderate upturn in domestic demand in India and slowly improving economic conditions in the Islamic Republic of Iran. The
region’s economic performance will greatly depend on the progress
4
in tackling growth bottlenecks, such as energy and transport constraints and volatile security conditions, as well as macroeconomic
imbalances. The room for monetary and fiscal policies to stimulate
domestic demand is limited by elevated inflation, large fiscal and
current-account deficits, and volatile global financial conditions.
Western Asia: solid growth overall despite the fallout
from military conflicts
Western Asia has seen slightly slower aggregate growth of 3.6 per
cent in 2013 than in 2012, and is projected to accelerate to 4.3
per cent in 2014, but to moderate to 3.9 per cent in 2015. However, Arab countries in Western Asia exhibited further divergence
in their economic performances. On the one hand, the member
countries of the Gulf Cooperation Council have been on a stable
recovery path. Non-oil sectors, particularly the real estate sector,
regained their strength, partly owing to active fiscal policy in the
subregion. On the other hand, the economies of Iraq, Jordan, Lebanon, Syrian Arab Republic and Yemen have been hampered by
continuing political instability, social unrest, security incidents and
geopolitical tensions. In Turkey, financial markets have been under
pressure since May 2013, with the currency depreciating and interbank interest rates rising as a result of a reversal in international
capital inflows. These unfavourable factors are expected to weigh on
real economic growth in the near term. GDP is estimated to grow
by 3.2 per cent in 2013 and by 5.0 per cent in 2014, before decelerating to 3.0 per cent in 2015. The GDP of Israel is estimated to
grow at a pace of 3.2 per cent in 2013, driven mainly by consumer
demand and net exports. In the outlook, GDP is forecast to grow
by 2.2 per cent in 2014 and 3.3 per cent in 2015.
Latin America and the Caribbean: growth to accelerate
in 2014-2015
In Latin America and the Caribbean, economic growth is estimated
to be 2.6 per cent in 2013. Although weak global economic conditions have hampered the region’s growth, economies in the region
were mainly supported by resilient domestic demand. In 2014 and
2015, GDP growth is expected to pick up to 3.6 per cent and 4.1
per cent, respectively, underpinned mainly by a gradual recovery
in developed economies, sound macroeconomic policies, and resilient domestic demand. The downturn in the region’s total exports
seems to have bottomed out during 2013, as export values picked
up during the second half of the year. In 2014 and 2015, an increase
in export volumes is expected to follow economic recovery in developed economies. In addition to external risks, domestic policies
to support economic activity face a number of challenges. In the
current context of high volatility of capital inflows and significant
uncertainties in developed countries, the region will face the challenge of coordinating fiscal, monetary and exchange-rate policies in
order to preserve financial stability and stimulate economic growth.
Some countries also face country-specific risks. A case in point is
the Bolivarian Republic of Venezuela, where policymakers are challenged to deal with soaring inflation driven by supply constraints
and currency devaluation.
To subscribe to an electronic copy, please e-mail: wesp@un.org