The World Trade Organization expects trade growth to slow to 1.7% this year because of Russia's war in Ukraine, high inflation, tight monetary policy and market uncertainty.
GENEVA (AN) — Global trade growth in 2023 is expected to slow to a "subpar" 1.7% despite a slight upgrade to GDP projections since last fall, WTO economists said.
The updated forecast released Wednesday would represent a significant decline from the 2.7% growth rate in 2022, but is up from WTO's October estimate of 1%.
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).
