UN agency warns of global recession induced by monetary policy in advanced economies
STORY: UN agency warns of global recession induced by monetary policy in advanced economies
DATELINE: Oct. 5, 2022
LENGTH: 0:02:29
LOCATION: GENEVA, Switzerland
CATEGORY: ECONOMY
SHOTLIST:
1. various of UNCTAD video
2. various of streets, people walking and shopping and traffic in different countries
3. SOUNDBITE (English): REBECA GRYNSPAN, UNCTAD Secretary-General
STORYLINE:
Monetary policy moves in advanced economies risk pushing the world towards global recession and prolonged stagnation, inflicting worse damage than the 2008 financial crisis and the COVID-19 shock, the UN Conference on Trade and Development (UNCTAD) said on Monday.
Rapid interest rate increases and fiscal tightening in advanced economies, combined with the crises resulting from the COVID-19 pandemic and the Ukraine conflict, have already turned a global slowdown into a downturn with the desired soft landing looking unlikely, said a UNCTAD report titled "Trade and Development Report 2022."
In a decade of ultra-low interest rates, cen
- Product Code
- ILEA001023864
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- 2022/10/05 00:00:00
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- Xinhua / Kyodo News Images
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