The global economy is facing strong headwinds that have set back world trade and output growth. Despite the measures implemented in many countries to contain the slowdown, production and employment trends continue to be negative. In the light of these developments, the World Trade Organisation (WTO) recently revised its forecast for world trade growth in 2012
to 2.5 percent, down from the previous 3.7 percent forecast. We foresee a volume of trade growth of 4.5 percent in 2013, below the long-term annual average of five to six percent that we have enjoyed for the last 20 years.
An agreement between 136 countries aimed at forcing the world’s biggest companies to pay a fair share of tax has been condemned by critics who say it will benefit richer states at the expense of the global South.
The traditional definition of aid is being eroded at the same time that governments have committed to achieving the UN's ambitious Sustainable Development Goals (SDGs), Jeffrey Sachs special adviser to the UN Secretary-General on development told IPS Thursday.
The Organisation for Economic Cooperation and Development (OECD), once a domain of the rich countries, is keen to extend its global membership and has set out a clear path for Costa Rica’s membership, within months of launching accession discussions with Colombia and Latvia.
While lauding South Africa for impressive social progress over the past two decades, a new study has asked the country to build on the successes achieved and reduce inequality further.
The latest report by the World Trade Organisation (WTO) on G20 trade measures shows a slight deceleration in the application of new trade-restrictive measures by G20 economies, with the average number of such measures applied per month lower than at any time since 2013.
Africa is known as the ‘paradox of plenty’. How can a continent so rich in natural resources be so poor?
One of the promises made by the leaders of the world's seven richest nations when they met at Schloss Elmau in Germany earlier this week was an energy transition over the next decades, aiming to gradually phase out fossil fuel emissions this century to avoid the worst of climate change.
With little fanfare, the German IFO Institute for Economic Research recently published a report on population projections for Germany which states simply that the country’s population is shrinking fast.
G7-based companies and investors cheated Africa out of an estimated six billion dollars in a year through just one form of tax dodging, according to a new Oxfam report ‘Money talks: Africa at the G7’
, released Jun. 2.
When it comes to climate change, business as usual is simply “not an option”.
Development aid flows were stable in 2014, after hitting an all-time high in 2013, but aid to the poorest countries continued to fall, according to new figures
released on Apr. 8 by the OECD Development Assistance Committee (DAC).
In response to rising demand for electricity, pressure to keep prices affordable and a need to maintain energy security, the Turkish government plans to increase electricity generation from coal.
In the face of the growing number of crises taking place at the same time worldwide, humanitarian aid organisations – many of which have already reached their financial and logistic limits – are in desperate need of global coordination.
For years, many policy makers, including economists, have clung to the belief that if states do nothing to boost income equality, market forces will cause wealth to trickle down to the poorest citizens and contribute to overall growth.
African countries fought hard for the Kyoto Protocol
not to die on African soil at the 2011 Climate Change Conference in South Africa, but they say it is now languishing in limbo because developed countries are taking what they called “baby steps" towards ratification of the Doha Amendment
that gave it a new lease of life.
As the international community wades into the political discussions regarding the alternatives to the Millennium Development Goals (MDGs) after 2015 and the design of the Sustainable Development Goals (SDGs) as mandated by the Rio+20 conference, it is timely to consider the question of whether development is a matter mostly of individual effort on the part of nation-states or whether there are elements in the international economic system that could serve as significant obstacles to national development efforts.
If former New York mayor Michael Bloomberg had used the Vélib’
- Paris’ public bicycle sharing system - to arrive at the headquarters of the Organisation for Economic Cooperation and Development here Wednesday, he might have sent a stronger message about the need for cities to be “empowered to take the lead in combating climate change”.
The official outlook for agriculture up to 2023 carries optimistic forecasts for agricultural productivity and commodity prices but it is unlikely that the benefits will be shared by the world’s poorest.
Inequality, poor infrastructure and declining trade are some of the problems that Latin America needs to overcome if the region truly wishes to achieve a “golden age”, according to Peru’s President Ollanta Humala.
On his first day of fourth grade, Efraín found there were no desks or benches in the classroom in his Mexico City school. His parents had to help the teacher haul in furniture from other rooms so the children wouldn’t have to start the new school year sitting on the floor.