The pandemic-hit global economy is expected to contract by as much as 4.4% this year, the International Monetary Fund forecast.
WASHINGTON (AN) — The pandemic-hit global economy is expected to contract by as much as 4.4% this year in the worst yearly drop since the 1930s-era Great Depression, the International Monetary Fund forecast on Tuesday.
That far outstrips the 0.1% shrinkage in the global economy after the 2008 financial crisis, and drastically reverses the 2.8% growth last year.
A proposed 2% minimum tax on billionaires will be taken up at Brazil's G-20 Leaders' Summit in November.
The effects of climate change hit hard from the bombed streets of Gaza to the glitzy venues of the Paris Olympics.
The U.N.'s annual report card shows the Sustainable Development Goals improved from 85% off track last year.
Developing nations' 30% share of global public debt in 2023, particularly in Asia and Oceania, rose from 16% in 2010.
People's health, nature and farmland all suffer from the spiraling negative impacts, says the U.N. health agency
Landlocked between Russia and China, Mongolia depends on Russia to meet its energy needs and China to buy its exports.
The guidance comes weeks before the U.N. General Assembly takes up the issue of AMR at its high-level meeting this month.
More than a third of the funds will support aid efforts for people in Yemen (US$20 million) and Ethiopia (US$15 million).
