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UNCTAD report warns global growth slowing to 2.3%, raises risks for developing economies
Summary
The U.N. Trade and Development agency projected world growth at 2.3% this year and warned developing and low-income countries face amplified risks from trade shocks, financial volatility and high debt burdens.
The spokesperson highlighted a new report from the United Nations Conference on Trade and Development (UNCTAD) in Geneva projecting global growth of 2.3% this year, warning that the pace places the world on a potentially recessionary path.
The report, Tremblay said, cites mounting threats including trade-policy shocks, financial volatility and a surge in uncertainty that could derail the outlook, and it singled out developing countries — particularly low-income economies — as most vulnerable to worsening external financial conditions, unsustainable debt levels and weakening domestic growth.
UNCTAD urged dialogue, negotiation and stronger regional and global policy coordination to help shield vulnerable economies, the spokesperson added; the full report is available online.
