WESP

According to the WESP 2020, sluggish global growth threatens sustainable development; 1 in 5 countries will see per capita incomes stagnate or decline this year, notably in Africa, Latin America and parts of Western Asia; across the world, many policies continue to encourage the use of fossil fuels

In a briefing to Member States, the World Economic Situation and Prospects 2019 was presented to the ECOSOC by United Nations Chief Economist and Assistant Secretary-General for Economic Development Elliott Harris, and Matthias Kempf, Senior Economist ...

The global economy is facing a confluence of risks, which could severely disrupt economic activity and inflict significant damage on longer-term development prospects. These risks include an escalation of trade disputes, an abrupt tightening of global financial conditions, and intensifying climate risks.

WESP 2019 highlights that economic progress remains highly uneven across the world Downside risks to the global growth outlook have increased Waning support for multilateralism may limit the capacity for collaborative policies in the event of a sharp g ...

Dawn Holland, Chief of the Global Economic Monitoring Branch, participated in a panel discussion on Global Economy in 2019: What Policymakers Need to Know, organized by the Center for Global Development in Washington, D.C. The discussion was hosted by Mr. Masood Ahmed, President, Center for Global Development and panelists included Ayhan Kose, Director, Prospects Group, World Bank; Anne-Marie Gulde, Deputy Director, African Department, International Monetary Fund; Liliana Rojas-Suarez, Senior Fellow and Director of the Latin America Initiative, Center for Global Development; and Sudhir Shetty, Chief Economist, East Asia and Pacific Region, World Bank.

Global growth may have reached a peak Firms in the United States and Japan are facing capacity constraints Manufacturing activity slows in developed and developing economies

High commodity dependence and structural barriers hindering long-term growth prospects of many developing countries; intensifying trade tensions between the major economies poses a significant risk to the global growth outlook; recent financial market turbulence exposes vulnerabilities in several developing economies

Improved economic performance in the global economy increasingly overshadowed by heightened risks and humanitarian concerns; armed conflicts a major impediment to progress on sustainable development; need for a redoubling of policy efforts to support conflict prevention and resolution

Short-term prospects for the world economy continue to strengthen, but more efforts are needed to ensure the gains are widely shared Weak productivity growth and a lack of secure employment are constraining progress in many countries in Africa, Latin America and Western Asia Rising inequality in China and India poses a risk to medium-term growth prospects