Following the rapid but uneven recovery from the Covid-19 shock, a series of supply-side shocks, waning consumer and investor confidence and the war in Ukraine have provoked a global slowdown and triggered inflationary pressures.
The world economy appears to be heading towards a global recession and prolonged stagnation unless we quickly change the current policy course of monetary and fiscal tightening in advanced economies.
All regions are affected, but alarm bells are ringing most for developing countries, many of which are facing serious debt distress and some edging closer to debt default. Climate stress is also intensifying, with mounting loss and damage in vulnerable countries who lack the fiscal space to deal with disasters, let alone invest in their own long-term development.
Programme
Moderator:
• Ms. Chantal Line Carpentier, Chief, New York Office, UNCTAD
Introductory remarks:
• Mr. Richard Kozul-Wright, Director Globalization Division, UNCTAD Geneva
• H.E. Mr. Osama Abdelkhalek Mahmoud, Permanent Representative of Egypt to the UN, New York
• H.E. Mr. Munir Akram, Permanent Representative of Pakistan to the UN, New York
UNCTAD Briefing:
• Mr. Jeronim Capaldo, Economist, Globalization Division, UNCTAD Geneva
• Ms. Orsola Costantini, Economist, Globalization Division, UNCTAD Geneva
Respondent:
• H.E. Mr. Pedro Luis Pedroso Cuesta, Permanent Representative of Cuba to the UN, New York
Interactive discussion
