In the face of a deep global recession amid a still unchecked pandemic, the world needs a global recovery plan that can return even the most vulnerable countries to a stronger position than they were in before COVID-19, says UNCTAD`s Trade and Development Report 2020.
According to the report, key to success will be tackling a series of pre-existing conditions that were threatening the health of the global economy even before the pandemic hit.
They include hyper-inequality, unsustainable levels of debt, weak investment, wage stagnation in the developed world and insufficient formal sector jobs in the developing world.
UNCTAD Secretary-General Mukhisa Kituyi said: “Building a better world require smart actions now. The lives of future generations, indeed of the planet itself, will depend on the choices we all take over the coming months.”
More info: unctad.org