News stories by Supachai Panitchpakdi

GENEVA, Jul 09 (IPS) - Almost five years have passed since the global financial crisis, and the world economy is still reeling from its consequences. The main reason for this is the continued stagnation in developed countries, which is adversely affecting economic dynamism in other regions.

GENEVA, May 09 (IPS) - The global repercussions of the 2007-2008 financial crisis are a stark reminder of the economic interdependence in our globalising world. No country was spared from the shock waves that originated in the financial systems of developed economies.

GENEVA, Dic 17 (IPS) - The global economy weakened significantly towards the end of 2011 and further downward pressure emerged in the course of 2012. The growth rate of global output, which had already decelerated from 4.1 percent in 2010 to 2.7 percent in 2011, is expected to slow down even more in 2012 to around 2.3 per cent. Developed economies as a whole are likely to grow by only slightly more than one per cent in 2012, owing mainly to the recession currently gripping the European Union (EU).

, Nov 15 (IPS) - Although it remains the fastest growing region, Asia is already experiencing an economic slowdown, with gross domestic product (GDP) expected to fall from 6.8 percent in 2011 to slightly below six percent in 2012. Several countries - including China, India and Turkey - have been adversely affected by weaker demand from developed countries.

In the past two decades, it has often been claimed that trade liberalization can, on balance, be a positive force for development. During this time, the Least Development Countries (LDCs) themselves became some of the most open economies in the world, based on the share of their exports in Gross Domestic Product (GDP). But greater opening of LDCs markets has not always benefitted all people in these countries, and the impact of trade reforms has affected their populations differentially, writes Supachai Panitchpakdi, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD).

Commodity producers are again reaping the benefits of high growth, particularly from high- demand importers, like China, and are increasingly formalising their integration into global commodity value chains. There is a growing recognition that, properly managed, resource rents can provide an important tool in the fight against poverty. At the same time however, there are serious concerns about the way in which commodity markets have been evolving in recent years. Since mid-2010, commodities have, for the second time in 3 years, been experiencing extremely high price volatility, which is exacerbating problems for producers, traders and consumers, writes Supachai Panitchpakdi, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD).

The attention of policymakers is being drawn to addressing fiscal policy and financial issues in an effort to close the credit crunch and release financial flows, especially investment.

As the global economic crisis continues to unfold, it is having severe effects on international trade. UNCTAD estimates that merchandise exports from developing countries could decline by 15.5% this year. At the regional level, we expect export growth to shrink by 16.8% in Asia, 12.5% in Africa, and 10% in Latin America, writes Supachai Panitchpakdi, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD).

As the global financial crisis evolves, more and more migrants will lose their jobs. Because migrants are a key component of the workforce in both developed and developing countries, addressing their plight is a major concern, writes Supachai Panitchpakdi, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD).