Monthly Briefing

July 2009 Summary: The recent United Nations conference on the global financial and economic crisis proposed a comprehensive set of actions to mitigate the immediate impact of the crisis and to formulate adequate medium- and long-term responses. Unempl ...

June 2009 Summary: First quarter data underscore the severity of the crisis across the globe. Although some high-frequency indicators for developed economies suggest a slowing of the downturn, economic recovery is still far from in sight. Several large ...

May 2009 Summary:  World economy will contract by 2.6 per cent in 2009; recovery in 2010 is possible, but risks of prolonged recession are high. Developing countries are disproportionately hit by the crisis. Fiscal responses, while significant, are asy ...

April 2009 Summary: Unemployment, trade and capacity utilization face sharpest deterioration since World War II Widening gaps in external financing for developing countries call for large international transfers G20 reaches agreement on provision of $1 ...

March 2009 Summary: Global financial markets remain highly volatile. Global imbalances are unwinding in disorderly fashion, heightening the risk of exchange-rate volatility. Unemployment is increasing worldwide at an alarming pace. Many countries see t ...

February 2009 Summary:  The impact of the financial crisis on economic activity has intensified worldwide. Industrial production and international trade flows have declined sharply, and unemployment is rapidly rising globally. Countries need to move mo ...

January 2009 Summary: There are increasing signs that the world economy is entering a recession. Slowing global demand underpinned a further decline in oil prices. Weakening economic conditions led to further accommodative policy actions. Deteriorating ...

December 2008 Summary:  The world is now mired in the most severe financial crisis since the Great Depression. According to the United Nations baseline forecast, world gross product (WGP) is expected to grow by only 1.0 per cent in 2009, a sharp decele ...

November 2008 Summary: In response to the intensified global financial crisis, a large number of countries adopted extensive emergency plans in October 2008, following a more comprehensive and internationally concerted approach. However, great uncertai ...