Tame inflation by significantly raising interest rates. The United Nations Conference on Trade and Development, which publishes its annual report, warns. “The monetary and fiscal policies taken by advanced economies risk pushing the world into a global recession and prolonged stagnation,” said Rebeca Grynspan, UNCTAD Secretary General. The indicators concern the UN agency. The world economy will only grow by 2.5% in 2022, predicts Cnuced, and by 2.2% in 2023. The figures are panicking. This drop in growth should generate a cumulative shortfall of more than 17,000 billion dollars on a planetary scale, or roughly the equivalent of China’s GDP. “There is still time to ward off the risk of a recession,” said the secretary general.
