US Projected to be the most hit as Covid-19 Triggers $4 trillion loss in global real GDP in 2020

Data presented by Buy Shares indicate that the global economy is projected to lose $3.94 trillion in real GDP. The loss will be recorded across 2020 mainly due to the coronavirus pandemic. The data projected China as the only country to record positive growth. According to the data, the ten most impacted countries will cumulatively lose $696.56 […]

UNCTAD’s Scribe, Kituyi Outlines How to Rejuvenate Global Economy, Trade

In light of the COVID-19 crisis, United Nations Conference on Trade and Development (UNCTAD) Secretary-General, Mukhisa Kituyi, discusses how to rejuvenate the global economy and trade in an interview with Didem Eryar Unlu of the Turkish newspaper Dünya. The global shutdown has harmed economies and civilizations and we are now heading to slow re=openings. This will […]

Coping with Coronanomics

The global economy is in a tailspin. IMF and the World Bank have both predicted a contraction of the global economy with developing economies likely to be worst affected. This situation is the direct result of the menace of the COVID-19 pandemic, and the energy crisis that the world faces. With many businesses and factories […]

Aftermath Of Coronavirus Crisis, Recession Hits Global Economy, 80 Countries Seek IMF Emergency Aid

The unyielding coronavirus pandemic has driven the global economy into a recession. Already, over 80 countries have appealed for emergency aid from the International Monetary Fund (IMF), to regain their balance.  IMF Chief Executive Officer, Kristalina Georgieva, who confirmed this development on Friday, says the pestilence has caused a global economic downturn that will require […]

Coronavirus outbreak could cost global economy up to USD 2 trillion: UNCTAD

The coronavirus outbreak could cost the global economy up to USD 2 trillion this year, the UN’s trade and development agency said, warning that shock from the epidemic will cause a recession in some countries and depress global annual growth to below 2.5 percent. “We envisage a slowdown in the global economy to under two […]

Report Challenges Leaders To Kick-start A New Global Economy That Puts People, Planet First

A seeming major new report from the World Fair Trade Organisation (WFTO), Traidcraft Exchange, University of York and Cambridge University, is challenging leaders to foster business models that put people and planet first.  The report unveils key features of such mission-led business models and provides a direct contrast with profit-primacy businesses.  Titled, Creating the new economy: […]

World’s richest 2,000 people hold more than poorest 4.6 billion combined: Oxfam

The world’s richest 2,153 people controlled more money than the poorest 4.6 billion combined in 2019, while unpaid or underpaid work by women and girls adds three times more to the global economy each year than the technology industry, Oxfam said on Monday. The Nairobi-headquartered charity said in a report released ahead of the annual […]

Developing Countries: UNCTAD Parleys With World Bank, IMO On Implications Of Carbon Dioxide Reduction

The United Nations Conference on Trade and Development (UNCTAD) is currently cooperating with the World Bank and the International Maritime Organisation (IMO) to assess the potential implications of carbon dioxide reduction measures on developing countries. This is so because over 80% of the goods consumed around the world are transported by sea, thus making shipping […]

UNCTAD Rings Alarm, Says Growing Inequality is Eroding Development Gains of Past Century

The United Nations Conference on Trade and Development (UNCTAD) has started to ring a worrisome on the rising inequality around the world, warning that it is a blight on the development hopes of the globe. According to the UN agency, ‘’the development gains of the 20th century are being eroded by growing inequality – and […]