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Monthly Briefing

Highlights of the Monthly Briefing on the World Economic Situation and Prospects (WESP), No. 80.

  • Greek voters reject bailout proposal
  • Several new EU members and South-Eastern European nations face risks of spillover effects from the Greek debt crisis
  • India and other South Asian economies register strong economic growth

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UN Photo/Mark Garten

Policy modelling training completed in Nicaragua

Training activities of the project "Supporting the design of sustainable development policies with policy modelling tools" were completed for Nicaragua, in Managua, on 6-9 July 2015. Workshops were organized for training government officials in the use of an economy-wide model and an integrated energy system to assess policies for sustainable development. Trainees are now well equipped to work on a number of policy notes, covering issues of relevance for sustainable development, which will be presented to and discussed with high-level policymakers in October 2015.

Monthly Briefing

Highlights of the Monthly Briefing on the World Economic Situation and Prospects (WESP), No. 79.

  • Global economy grows at a modest pace
  • Recovery in Western Europe gradually becoming more broadly based, but still fragile
  • Economic growth downgraded for commodity exporters, while more diversified economies benefit from lower commodity prices

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Costa Rica Geothermal Energy

UN Photo/Milton Grant

Transitioning from MDGs to SDGs in Costa Rica

A dialogue between DESA/DPAD and technical staff from the Ministry of Planning, the Ministry of Environment, Energy and Seas, the Costa Rican Institute of Electricity, and UNDP Costa Rica was held in San José, Costa Rica on 18-20 May as part of the activities related to the capacity development project Supporting developing countries in their transition from MDGs to broader Sustainable Development Strategies through modelling-based policy analysis. The discussions revolved around feasible strategies to reduce reliance on imported fossil fuels and increase transport efficiency; policies to promote more efficient uses of energy; and how these strategies and policies will impact economic growth and human development. DPAD was represented by Senior Economic Affairs Officer Marco Sanchez-Cantillo and Senior Inter-regional Adviser Eduardo Zepeda.

WESP 2015 Mid-Year Update

World Economic Situation and Prospects as of mid-2015

The mid-year update of the World Economic Situation and Prospects forecasts growth of world gross product to accelerate slightly from 2.6 per cent in 2014 to 2.8 per cent in 2015—a downward revision by 0.3 percentage points from the forecast presented in the World Economic Situation and Prospects 2015 in January. In 2016, global growth is forecast to improve to 3.1 per cent. The report was launched today in New York by Pingfan Hong, Director of the Development Policy and Analysis Division (DPAD), UN/DESA; and Ingo Pitterle, Economic Affairs Officer, DPAD/DESA.

WESP 2015 Mid-Year Update Press Conference

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Monthly Briefing

Highlights of the Monthly Briefing on the World Economic Situation and Prospects (WESP), No. 78.

  • U.S. dollar softens against a wide range of currencies
  • East Asian exports weaker than expected during the first quarter
  • Labour market in Brazil starts to deteriorate, after several years of falling unemployment rates

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The advance unedited CDP report to ECOSOC on the 17th session of the CDP Plenary, held from 23-27 March 2015 in NY, is now available. During the session, CDP members conducted the triennial review of the list of LDCs, examined the challenges for effective accountability for sustainable development in the post-2015 era and reviewed how the new financing for development landscape could contribute to the Istanbul Programme of Action (IPoA) in the post-2015 era. Additionally, the CDP monitored the graduated and graduating countries from the LDC category and continued to refine the indicators employed for the identification of LDCs, particularly on how to further strengthen the measurement of health-related structural impediments.

LDC Data Retrieval

During the 17th session of the CDP Plenary, held from 23 - 27 March 2015 at UN headquarters in NY, CDP members conducted the triennial review of the list of LDCs, examining the eligibility for graduation and inclusion on the basis of the country's socio-economic performance vis-a-vis the LDC criteria. The data for the LDC criteria and indicators has now been released and can be viewed or downloaded on the LDC Data Retrieval page.

Monthly Briefing

Highlights of the Monthly Briefing on the World Economic Situation and Prospects (WESP), No. 77.

  • Progress in the creation of the Asian Infrastructure Investment Bank
  • GDP growth diverges among developing economies
  • Sharp currency depreciations in many emerging economies

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Global financial regulation: have post-crisis initiatives made a difference?

In a Development Policy Seminar held in New York yesterday, Nicolas Véron, Senior Fellow at Bruegel in Brussels and Visiting Fellow from the Peterson Institute for International Economics, argued that the effectiveness of post-crisis reforms in financial regulation in making global finance more stable is not so far proven. In his presentation, he showed that unintended consequences of the reforms are appearing gradually, even as their initial implementation is still unfinished. In his view, the G20 has established neither an adequate institutional infrastructure nor a consistent policy vision for a globally integrated financial system. This shortcoming justifies increasing concerns about economically harmful market fragmentation. One key aim, according to Véron, should be to make international regulatory bodies more representative of the rapidly-changing geography of global finance, not only in terms of their membership but also of their leadership and location.

Continued capacity building in Uganda

DPAD in collaboration with UNDP and the National Planning Authority in Uganda organized a training workshop on 23-27 March, 2015, in Entebbe. This activity strengthened the Government's skills to use economy-wide simulation analyses to inform the final stage of drafting of the National Development Plan II. This was part of the continued support that DPAD is providing to Uganda's Government since 2006. Other official reports that have received input from similar capacity building exercises include the Poverty Status Report 2014 and the MDG Report for Uganda 2013.

Monthly Briefing

Transitioning from MDGs to SDGs: Accountability for the post-2015 era

A panel discussion organized by the Committee for Development Policy (CDP) was held on 24 March, featuring CDP Chair José Antonio Ocampo, CDP Vice Chair Sakiko Fukuda-Parr, and CDP members Stephan Klasen and Tea Petrin. The discussion centred on concrete recommendations for establishing an effective accountability framework for development in the post-2015 era. In particular, critical elements were identified on which a reformed and strengthened monitoring and accountability framework need to be built.

Watch the discussion on webtv.un.org >>

Monthly Briefing

Highlights of the Monthly Briefing on the World Economic Situation and Prospects (WESP), No. 76.

  • ƒƒCentral banks in developed and emerging economies ease monetary policy
  • Agreement reached to extend Greece's bailout programme through June
  • Inflation pressures increasing in CIS economies, while easing in many other emerging economies

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Facebook chat on the world economy

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A Facebook chat was held on Thursday, 12 February, from 10:00 am to 11:30 am EST to discuss the current state of the world economy and growth prospects for 2015 and 2016. Economists from the Global Economic Monitoring Unit of UN/DESA's Development Policy and Analysis Division were on hand to answer questions from the online community about the World Economic Situation and Prospects 2015. Questions were posted at http://bit.ly/AskWESP2015 or on Twitter @UNDESA and @UNDevelopPolicy using the hashtag #AskWESP2015.

Monthly Briefing

Highlights of the Monthly Briefing on the World Economic Situation and Prospects (WESP), No. 75.

  • ƒƒMajor central bank policy swings in Switzerland and the euro area
  • Euro area deflation sets in
  • Oil exporters face increased fiscal challenges, while lower commodity prices ease inflationary pressures

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Development Policy Seminar: Transforming MDG growth patterns for SDGs

Pingfan Hong, Director of DPAD/DESA, will be presenting his analysis on the growth patterns of MDGs and how it needs to be transformed for the new Sustainable Development Goals this Wednesday, 11 February 2015, 4:00 pm – 5:30 pm at the United Nations Secretariat, Room S-2727FC.

WESP 2015

The World Economic Situation and Prospects 2015 forecasts global economic growth to increase marginally over the next two years at 3.1 per cent in 2015 and 3.3 per cent in 2016, compared with an estimated growth of 2.6 per cent for 2014. An expected US interest rate increase, remaining euro area fragility, a further slowdown in developing economies and geopolitical conflicts pose major concerns for the global economic outlook.

The report was launched today in Bangkok, Beirut, Geneva, Mexico and Moscow. A launch will be held in New Delhi on January 20 and Addis Ababa on January 22.

Read more >>

Monthly Briefing

Highlights of the Monthly Briefing on the World Economic Situation and Prospects (WESP), No. 74.

  • ƒƒ Moderate global economic expansion in 2014, as post-crisis adjustments continued
  • In 2015, developed economies to be led by a stronger U.S. economy, while downside risks remain significant in Japan and the euro area
  • Developing economies to be led by East Asia, while several large emerging economies face internal and external challenges

Read more >>

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