Global Economic Monitoring Unit (GEM)

August 2012 Summary: Drought in large parts of the United States is pushing up world food prices Emerging markets ease monetary policy to stimulate growth The debt crisis in the eurozone remains a major source of uncertainty  The severe drought affecti ...

July 2012 Summary: Marked deceleration in global trade Progress made in EU bank recapitalization and growth pact Growth slows in Brazil and India Monthly data of global and regional trade confirm that a marked deceleration of international trade is und ...

June 2012 Summary: Growth projections for the global economy revised downward The jobs crisis continues Euro area debt crisis and rising energy prices are key risks Despite some scattered signs of improvement in recent months, the world economic situat ...

May 2012 Summary: Quantitative easing by developed countries imposing a tax on the rest of the world IMF resources boosted by $430 billion Unemployment continues to rise in Europe Central banks of developed countries collected an enormous amount of sei ...

April 2012 Summary: Developed country central banks continue monetary easing China records significant trade deficit in January and February Hungary may become first country to face EU financial sanctions In the United States, the Federal Reserve Bank ...

March 2012 Summary: Rising oil price complicates global recovery Agreement made for second rescue package to Greece Growth slowed in India and Brazil in 2011 During most of February, oil traded above $120 per barrel, reaching levels not seen since May ...

February 2012 Summary: ECB supporting private banks amidst fears of a credit crunch EU leaders agree on a new fiscal compact enhancing fiscal discipline Foreign reserves in Egypt hit dangerous low The sovereign debt crises continue to place stress on E ...

January 2012 Summary: Faltering global economic growth in 2011 High unemployment is the Achilles Heel of the recovery Renewed volatility and heightened risk in financial markets in 2011 The pace of global economic growth slowed markedly in 2011. While ...

The World Economic Situation and Prospects 2012 cautions that the world economy is on the brink of another major downturn. Global economic growth started to decelerate on a broad front in mid-2011 and is estimated to have averaged 2.8 per cent over the ...