UN Press Release on World Economic Situation and Prospects 2012 Mid-Year Report
The Euro debt crisis remained the biggest threat to the world economy, according to a United Nations report launched today at a Headquarters press conference by United Nations Assistant-Secretary-General of the Department of Economic and Social Affairs, Jomo Kwame Sundaram, and Rob Vos, lead author of the text and Director of the Department’s Development Policy and Analysis Division.
An escalation of the crisis could result in severe turmoil in financial markets and a sharp rise in global risk aversion, leading to a further weakening of global growth, according to the mid-year report of the World Economic Situation and Prospects 2012.
The two officials said the world economic situation remained challenging. Following a marked slowdown in 2011, global growth would likely remain tepid in 2012, with most regions expanding at a pace below potential. Most developing countries were still struggling to overcome the economic woes from the 2008-2009 global financial crisis.
Mr. Sundaram underlined three major points he said were at the heart of the global economic recovery debate. First, from a policy point of view, the previous consensus, or seeming consensus in favour of fiscal austerity or consolidation, had been severely battered over the last few months. There was now strong recognition all over the world that the fiscal austerity pursued by many Governments had been the main cause for the protracted economic downturn. There was now a re-examination of those policies and much more serious reconsideration of the need for fiscal stimulus and other efforts to ensure a strong, sustained and inclusive recovery.
Secondly, he noted, international cooperation was extremely important to all recovery efforts, but, unfortunately, since 2009, there had been very limited international cooperation beyond the mobilization of additional resources for the International Monetary Fund. International cooperation guaranteed that all countries and all economies benefitted, and not just some economies at the expense of others. Understanding that was important, especially in light of the fact that many economies in recent years had “turned inward” to their own regions and were less inclined to cooperate than before. In addition to “output” recovery, job recovery was also vital, he added.
The third point was that the political situation had changed. The election results last month in Europe for example – France, Greece and in several states in Germany – had changed the debate significantly and fundamentally changed the political atmosphere. For that reason, he was somewhat more optimistic that a point had been reached where the tide might have turned and might well result in serious reconsideration of the kinds of policies that the United Nations had been advocating consistently over the last few years in favour of a strong, sustained and inclusive recovery.
And Mr. Vos said while many of the key points in the present mid-year report were similar to what was contained in the report — World Economic Situation and Prospects 2012 — launched in January, but some of them had since worsened. If there was any message in the updated report, it was that the world was already in a global economic slowdown, which had started in 2011, he said, pointing to Europe, much of which was already in a recession that was trickling down to the rest of the world. Most concerning was the jobs crisis, particularly in developed countries, he stated.
Further continued slowdown was expected in 2012, with only slight upward trends in 2013, he said. The report estimated that world trade growth would slow further to 4.1 per cent this year, down from 13.1 per cent in 2010 and 6.6 per cent in 2011. Moreover, the risk of a further downward spiral was also very high; particularly from Europe, but also owing to weaknesses in other developed economies. There was also a risk that there could be further increases in commodity prices and capital flow volatility. The report also emphasizes the possibility of sharp rises in global energy prices, mainly caused by supply shocks due to political factors in the Middle East, he explained.
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For more details go to UN News Centre at http://www.un.org/news
(UN) More funding key as UN agency assists civilians fleeing violence in DR Congo
With conflict escalating in eastern Congo, WFP has been providing lifesaving assistance to families who were forced to leave everything behind. Photo: WFP/N. Sanders
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8 June 2012 –
The United Nations World Food Programme (
WFP) today stressed the need for sufficient resources as it strives to meet the needs of a growing number of people displaced by violence in eastern Democratic Republic of the Congo (DRC). “With the conflict escalating in the past few weeks, WFP has been providing lifesaving assistance to Congolese who were forced to leave everything behind,”
saidWFP’s Regional Director for East and Central Africa, Stanlake Samkange.“But continued violence will lead to more people requiring help and it will be critical to ensure that WFP has sufficient resources to address the needs of the newly displaced,” he added. Overall, WFP is currently providing assistance to a total of 532,000 Congolese refugees and IDPs in Africa’s Great Lakes region. Its operations in DRC, Uganda and Rwanda currently have a combined funding shortfall of some $46 million over the next six months.This week alone, the agency provided monthly food rations to close to 20,000 newly displaced people and host families in Beni in the province of North Kivu, amid concerns about the effect of violence on civilians in the country’s eastern region. Tens of thousands of people have fled their homes, many seeking refuge near the city of Goma or elsewhere in eastern DRC, WFP stated in a news release. Thousands more have made the trek across the Rwandan and Ugandan borders in search of security.In North and South Kivu provinces, WFP is providing emergency food assistance to more than 244,000 displaced people. It plans to provide food to 4,000 new internally displaced persons (IDPs) in Rutshuru, North Kivu, in the coming days and carry out an assessment of the needs of some 80,000 people who have arrived in the same area. Another 8,000 people are scheduled to receive food assistance in Minova, South Kivu, next week.
In Uganda, more than 21,000 Congolese who have crossed the border since the beginning of the year have received assistance at the Nyakabande reception centre in Kisoro and elsewhere in the country. Meanwhile, close to 11,000 people have crossed the border into Rwanda since April, according to the Office of the UN High Commissioner for Refugees (
UNHCR). The refugees are temporarily housed at the Nkamira transit centre, where they receive food from WFP.
W. Africa: Security Council Praises Liberia ProgressTuesday, 29 May 2012, 2:54 pm
Press Release: UN News |
On Visit To West Africa, Security Council Praises Liberia’s Progress
New York, May 21 2012 11:10AM
Ahead of their visit to Côte d’Ivoire, the members of the Security Council commended Liberia for its progress since the end of its civil war in 2003, and reiterated their support for efforts on reconciliation and inclusive dialogue in the West African country.
‘We applaud the president and her team for inaugurating an ambitious national development and economic agenda,” Ambassador Susan Rice of the United States told reporters after a meeting with Liberia’s President Ellen Johnson Sirleaf and other Government officials on Saturday.“It was quite evident that Liberia has made [quite] considerable progress since the end of the civil war.”
Ms. Rice, along with Ambassador Mohammed Loulichki of Morocco, co-led the Council delegation on a two-day visit to Liberia, part of a wider visit to West Africa which also includes Côte d’Ivoire and Sierra Leone.
In his remarks to the media, Amb. Loulichki highlighted that the Council came to Liberia with a message of appreciation of what has been achieved by Liberia and its leadership.
“We are extremely proud of what Liberia is achieving and we are optimistic about the future of this country, not only to stabilize but also to have a prosperous future,” he said.
On Sunday, the Council members had the opportunity to see the country’s growth first-hand during a visit to an alternative livelihood project project for traditional women, sponsored by the peacekeeping operation known UN Mission in Liberia (UNMIL). The women, many of whom have been the victims of harmful practices, process and tailor colourful fabrics that they then sell as a means to generate income.
In addition to meeting President Ellen Johnson-Sirleaf and other Government officials, the Council members also met with representatives of civil organizations to discuss national reconciliation and governance issues. The Council’s last visit to Liberia was in 2009.
In Côte d’Ivoire today, the Council members will meet President Alassane Ouattara and representatives of that country’s National Assembly, before heading to Sierra Leone.
The delegation will return to New York on Thursday, 24 May.
May 21 2012 11:10AM
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For more details go to UN News Centre at http://www.un.org/news
President Obama and First Lady Michelle Obama sat down Thursday for an exclusive interview with “CBS This Morning” host Charlie Rose. (Credit: CBS News)
Several thousands of people took to the streets of South Africa to protest against the painting by artist Brett Murray. The painting by Murray displays President Jacob Zuma with his penis exposed. The painting was on display at Johannesburg’s Goodman Gathering. Related story: 
Liberian ex-leader Charles Taylor was convicted Thursday of arming rebels during Sierra Leone’s civil war in return for blood diamonds, in an historic verdict for international justice. In the first judgement against a former head of state by a world court since the World War II Nuremberg trials, Taylor was found guilty of 11 counts of war crimes and crimes against humanity by the Special Court for Sierra Leone. “The trial chamber finds you guilty of aiding and abetting of all these crimes,” said presiding judge Richard Lussick. “The chamber finds beyond reasonable doubt that the accused is criminally responsible… for aiding and abetting in the commission of crimes one to 11 in the indictment,” Lussick said at the court, based just outside The Hague. Dressed in a dark suit, white shirt and red tie, the former president stood motionless as the verdict was read and showed no emotion afterwards. He will be sentenced by the same court on May 30. If sentenced to jail, Taylor will be held in a British prison. Earlier the Samoan judge Lussick said: “The trial chamber found that the accused was instrumental in procuring and transporting arms to (Sierra Leone’s) RUF rebels, that he was paid in diamonds and kept some for himself.”
