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Coordinated and Massive Global Stimulus Required

Article no: EN20081201-Article-6.9-2008

Coordinated and Massive Global Stimulus Required

UN economists are recommending massive economic stimulus packages that are coherent and mutually reinforcing on a global basis, and linked with sustainable development imperatives. These should come on top of the liquidity and recapitalization measures already undertaken by countries. That?s a main message of the new World Economic Situation and Prospects report (see reference). A WDEV summary of the first chapter

The 2007 sub-prime mortgage debacle spread into a global financial crisis in 2008, and since has turned into a calamitous economic downturn that will last into 2009 and likely beyond, says an advance edition of the UN annual economic report, issued at the international Financing for Development review in Doha. Also recommended are stronger regulation of financial institutions, adequate international liquidity provisioning, an overhaul of the international reserve system and a more inclusive global economic governance, to prevent against any future repetition ...

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