UNCTAD Photo | Rebecca Grynspan (right) speaks to moderator Nicholas Davis at the annual summit of the Global Maritime Forum on 22 September 2022. The world again needs the shipping industry to brave the rough seas of crises, UNCTAD Secretary-General Rebeca Grynspan said on 22 September as she addressed the Global Maritime Forum’s annual summit. Speaking…
By UNCTAD Secretary-General Rebeca Grynspan, WTO Director-General Ngozi Okonjo-Iweala and International Trade Centre Executive Director Pamela Coke-Hamilton We are in the toughest period the world economy has faced since the creation of the multilateral system more than three-quarters of a century ago. A quadruple shock of COVID, climate change, conflict and cost-of-living has undone years…
By Philipp Engler, Roberto Piazza and Galen Sher Rapid vaccine rollout in the United States and passage of its $1.9 trillion fiscal stimulus package have boosted its expected economic recovery. In anticipation, longer-term US interest rates have risen rapidly, with the rate on 10-year Treasury securities going from under 1 percent at the start of…
By David Amaglobeli, Vitor Gaspar, and Paolo Mauro The COVID-19 pandemic is intensifying the vicious circle of inequality. To break this pattern and give everyone a fair shot at prosperity, governments need to improve access to basic public services—such as health care (including vaccination) and education—and strengthen redistributive policies. For most countries, this would require raising…
Switzerland benefits from tax abuse by companies and individuals to the tune of around $12.8 billion (CHF11.9 billion) according to a new global ranking. However, it also loses out on $5.7 billion in revenue. According to an analysisExternal link by the Tax Justice Network published last week, Switzerland comes in fifth in the Corporate Tax Haven index,…
Recent developments: Output in the Sub-Saharan Africa region contracted by an estimated 3.7% in 2020, as the COVID-19 pandemic and associated lockdowns disrupted economic activity. As a result, per capita income shrank by 6.1% in 2020, setting average living standards back by at least a decade in a quarter of Sub-Saharan African economies. Hardest hit…
