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While security questions have long dominated the international agenda and world leader's attention, the risks to the global economy posed by recent financial markets turmoil have suddenly moved to centre stage. Concerns over a global slowdown are mounting and the initial hope that the world economy could be decoupled from the economic downturn in the United States is fast evaporating. Against this recent turn of events the Council decided to devote an informal meeting during its organizational session to discuss this issue and its implications, particularly for developing countries, with a re-known expert.

The session, which was held on 6 February 2008 at United Nations Headquarter in New York , featured Mr. Nouriel Roubini, Professor of Economics at New York University's Stern School of Business and co-founder and Chairman of RGE Monitor, an innovative economic and geo-strategic information service. Professor Roubini shared his assessment of recent economic developments and their implications for developing countries with the Council. His intervention was followed by a presentation of the main findings of the World Economic Situation and Prospects report 2008 by Mr. Rob Vos, Director, Development Policy and Analysis Division, United Nations Department of Economic and Social Affairs (UNDESA). An interactive discussion ensued. The meeting was chaired by H.E. Ambassador Léo Mérorès, President of the Economic and Social Council and Mr. Jomo Kwame Sundaram, Assistant-Secretary General for Economic Development, UNDESA.



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