UNCTAD's just-published Trade & Development Report 2022 projects the global economy will slow to 2.2% in 2023 and warns of a policy-induced global recession.
It calls for an urgent shift in monetary & fiscal policies in advanced economies and outlines actions needed to get the right support to the developing countries most exposed to a cascade of debt, health & climate crises.
“There’s still time to step back from the edge of recession,” UNCTAD Secretary-General Rebeca Grynspan says. “We have the tools to calm inflation and support all vulnerable groups. This is a matter of policy choices and political will."
