CNBC: ‘We must change course’: UN warns that the world is on the brink of recession
* Monetary and fiscal policies in advanced economies — including continued interest rate hikes — could push the world toward a global recession and stagnation, the UN Conference on Trade and Development (UNCTAD) said on Monday.
* A global slowdown could potentially inflict worse damage than the financial crisis in 2008 and the Covid-19 shock in 2020, warned the UNCTAD in its Trade and Development Report 2022.
* “We still have time to step back from the edge of recession. Nothing is inevitable. We must change course,” said UNCTAD Secretary-General Rebeca Grynspan.
The United Nations has sounded off a warning that the world is “on the edge of a recession” and developing nations like those in Asia could bear the brunt of it.
Monetary and fiscal policies in advanced economies — including continued interest rate hikes — could push the world toward a global recession and stagnation, the UN Conference on Trade and Development (UNCTAD) said on Monday.
A global slowdown could potentially inflict worse damage than the financial crisis in 2008 and the Covid-19 shock in 2020, warned the UNCTAD in its Trade and Development Report 2022.
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WNU Editor: The UN warning is very blunt. The US Central Bank needs to stop raising interest rates or we will be facing a global recession (i.e. depression) coupled with an unprecedented foreign debt crisis that would collapse most foreign currencies.
The UN report is here .... Trade and Development Report 2022 (UNCTD).
UN Agency Warns The World Is On The Brink Of A Recession If Central Banks Continue To Raise Interest Rates
UNCTAD warns of policy-induced global recession -- UNCTAD
UN urges Fed to pause interest rate hikes on global recession fears -- FOX News
A UN agency wants the Fed to slow its interest rate hike -- CNN
Don't raise interest rates, UN warns the Federal Reserve and other central banks -- SKY News
The UN Demands All Central Banks Stop Rate Hikes And Switch To Price Controls Instead -- Zero Hedge
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