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Monetary and fiscal policy moves in advanced economies might lead to a global recession and prolonged stagnation, inflicting worse damage brought by the financial crisis in 2008 and the COVID-19 pandemic in 2020, according to a report released by the United Nations Conference on Trade and Development (UNCTAD) Monday.
"Some 90 developing countries have seen their currencies weaken against the dollar this year, 90 developing countries. Over a third of them have seen that by more than a 10 percent devaluation. Foreign exchange reserves are falling and bond spreads are widening," said Rebeca Grynspan, secretary-general of the UNCTAD.
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466