Economics and Finance

Projecting global growth slowing to 2.2% in 2023, UNCTAD outlines actions to avert crisis and support developing countries exposed to cascading crises of debt, health and climate due to inadequate financial support.

Commodity importers are hit hardest while fossil fuel exporters register temporary windfall gains.

Many economies of the region are facing growing pressure on their external debt positions and the rising cost of living is a growing challenge to policymakers.

Regional growth is projected to pick up in 2023 but downside risks from China's greater-than-expected slowdown, the weakness of the global economy and policy shifts in advanced economies pose concern.

Almost 60% of Africa's low-income countries are already in debt distress or at high risk of it and millions of Africans are falling back into poverty amid acute risks of food insecurity.

An UNCTAD report shows that adoption of policy measures and regulations dedicated to sustainable finance accelerated in 2021.

By Rebeca Grynspan, Secretary-General of UNCTAD

The consequences of a combined health pandemic and a global recession will be catastrophic for many developing countries and halt their progress towards the Sustainable Development Goals.

Economic prospects threatened by weak support for multilateralism, tight financial conditions and trade tensions, says new UN World Economic Situation and Prospects report.

UNCTAD's latest Policy Brief looks at how emerging economies have managed capital inflows in the post-crisis period and makes policy recommendations on trade rules and capital account regulation.