UN agency warns of global recession induced by monetary policy in advanced economies

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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

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  • ILEA001023864
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  • 2022/10/05 00:00:00
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