Global foreign direct investment plummeted by 49% during the first half of 2020 compared with a year ago due to the pandemic, UNCTAD reported.
Global foreign direct investment plummeted by 49% in the first half of 2020 compared with a year ago due to the coronavirus pandemic, the U.N. Conference on Trade and Development reported on Tuesday.
Government-ordered lockdowns around the world slowed existing investment projects, UNCTAD said in its latest Investment Trends Monitor, while multinational businesses reconsidered new projects due to the prospect of a deep global recession.
Just 15% of the SDGs – which include 169 specific targets and 17 broad goals that the world agreed to in 2015 – is on track.
The Bank for International Settlements' general manager said the key policy challenge remains fully taming inflation.
As interest rates soar and the economy slows, the World Bank sees an 'enduring setback' for developing economies due to high interest rates, war in Europe and the pandemic.
As the only G-7 member to have joined Beijing's sprawling global pact, Italy had indicated it would leave. But now Prime Minister Giorgia Meloni says the decision is still up in the air.
Some in the developing world fear that the war in Ukraine is diverting attention away from the dangers of climate change.
The U.N. health agency praised world leaders for a 'historic' commitment to working together against future pandemics.
Ukraine's President Volodymyr Zelenskyy and U.S. President Joe Biden each took the stage at the U.N. General Assembly to emphasize there are global stakes in the outcome of the war.
Despite the absences, the politics of catastrophe and climate inaction toward Earth's impaired health await the assembly's annual gathering of world leaders next week in New York.
