UNCTAD recommends new financial architecture to overcome global economic stagnation

6 October 2015

Developed countries need to increase public spending, increase wages and stimulate demand in order to reactivate their economies, says the 2015 report published today by the United Nations Conference on Trade and Development, UNCTAD.

On the other hand, it recommends fair and efficient sovereign debt renegotiation mechanisms, agreed internationally, to mitigate the damage caused by these crises.

Mexican economist Juan Carlos Moreno Brit presented some of the report’s findings at a conference held in Mexico City.

“UNCTAD says that we must think of a new international financial architecture oriented not only to stability but to serve development, understood to improve the well-being of our populations,” Moreno Brit indicated.

UNCTAD indicates that this reform will be necessary for the world to promote the new 2030 Agenda for sustainable development.

The report also indicates that the growth of the world economy will remain very similar to that of the previous year, around 2.5%.

In turn, developing countries will experience a moderate slowdown, while economies in transition will suffer a severe decline, which includes some countries in Eastern Europe, and Asia, including China.

6 October 2015

Developed countries need to increase public spending, increase wages and stimulate demand in order to reactivate their economies, says the 2015 report published today by the United Nations Conference on Trade and Development, UNCTAD.

On the other hand, it recommends fair and efficient sovereign debt renegotiation mechanisms, agreed internationally, to mitigate the damage caused by these crises.

Mexican economist Juan Carlos Moreno Brit presented some of the report’s findings at a conference held in Mexico City.

“UNCTAD says that we must think of a new international financial architecture oriented not only to stability but to serve development, understood to improve the well-being of our populations,” Moreno Brit indicated.

UNCTAD indicates that this reform will be necessary for the world to promote the new 2030 Agenda for sustainable development.

The report also indicates that the growth of the world economy will remain very similar to that of the previous year, around 2.5%.

In turn, developing countries will experience a moderate slowdown, while economies in transition will suffer a severe decline, which includes some countries in Eastern Europe, and Asia, including China.