UN trade body warns of further economic slowdown this year

By Thomson Reuters Apr 16, 2024 | 4:12 AM

BERLIN (Reuters) – The global economy faces a further slowdown this year, hit by falling investment and subdued trade dynamics, the United Nations trade body warned on Tuesday before spring meetings of the International Monetary Fund and World Bank this week.

The prospect of interest rate cuts may ease budget pressure on governments and business but cannot alone solve challenges from sovereign debt to growing inequality and climate change, said the United Nations Conference on Trade and Development.

The body called for multilateral strategies to revive investment and trade, support full employment and fair income distribution, saying they were crucial to driving robust growth.

(Writing by Madeline Chambers; Editing by Miranda Murray)