[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109922-en":3,"doc-seo-109922-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},109922,1374391974564,"Clementine","https://ap-avatar.wpscdn.com/avatar/14000253aa45c000a9e?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779874745381141002",8,"Research & Report","Statement by Mukhisa Kituyi - UNCTAD Development Committee 102nd Meeting Statement - October 16, 2020","Statement by Mukhisa Kituyi, UNCTAD Secretary-General, for the International Monetary and Financial Committee and the Development Committee at the 102nd virtual meeting on October 16, 2020. It assesses the deep recession driven by the still unchecked pandemic, highlights imbalances between households and asset markets, and questions the effectiveness of early-stage support and policy coordination. The statement outlines projected contractions in output, trade, investment, and remittances, describes unequal impacts on developing economies, and argues for overdue reforms to the multilateral architecture to enable a stronger, more inclusive global recovery.","Public Disc losure Authorized  \nDEVELOPMENT COMMITTEE  \nPub lic Disc losure Authorized  \n(Joint Ministerial Committee  \nof the  \nBoards of Governors ofthe Bank and the Fund  \non the  \nTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND TWO MEETING WASHINGTON, DC – OCTOBER 16, 2020  \n(VIRTUAL)  \nDC/S/2020-0044 October 16, 2020  \nStatement by  \nMukhisa Kituyi Secretary-General  \nUNCTAD  \nStatement by  \nMukhisa Kituyi  \nSecretary-General, UNCTAD  \nto the International Monetary and Financial Committee  \nand the Development Committee  \n102nd Meeting of the Development Committee  \nOctober 16, 2020  \nWashington, DC  \n(VIRTUAL)  \nThe world economy will, this year, experience a deep recession amid a still unchecked pandemic. The costin terms of lives and livelihoods has already been enormous and, while the lifting of lockdown has triggered a bounce back, its pace and extent is difficult to gauge given the high levels of economic and epidemiological uncertainty. UNCTAD believes that now is the time to hammer out a plan for global recovery, one that can actually return even the most vulnerable countries to a stronger position than before the crisis. But this was also the promise a decade ago after the global financial crisis. To recover better this time will require enacting overdue reforms to the multilateral architecture that could help tackle the deepening fractures and growing tensions that threaten the health and stability of the global economy.  \nA shock to an already shaky economic foundation  \nWhile policy-makers around the world have reacted quickly and decisively during the early stages of the current crisis, questions still arise as to whether the support offered has been channelled effectively or the requisite policy coordination will be in place to ensure resilience at the global level once the pandemic is under control. This only adds to the uncertain trajectory of recovery. The growing disconnect between squeezed household budgets and booming stock markets, and between rising bankruptcy rates among small and medium enterprises and larger corporations flush with liquid assets are clear signs of imbalance.  \nAs the first emergency measures are wound down, policy discussions are reminiscent of 2010. Back then the withdrawal of fiscal stimulus adversely impacted growth while quantitative easing and low interest rates propelled asset prices ever higher, reinforcing a culture of quick financial returns, with private equity, share buy-backs and mergers and acquisitions the instruments of choice. In one startling example, between 2010– 2019, S&P 500 companies channelled almost a trillion dollar a year into share buy backs and dividend payments. Policymakers will need to keep such operations in check to avoid undermining the recovery from the COVID-19 shock.  \nAnother reason to cast doubt on prospects of a strong recovery is the asymmetry between developing and developed economies in their attempts to cope with the shock and manage financial constraints. While many developed economies have, for the moment, eschewed plans for fiscal consolidation in order to ramp up real government spending and provide large amounts of government-backed credit, most developing economies have not been given this latitude, their fiscal and monetary space still constrained by the rules and practices ofthe pre-COVID-19 world.  \nA severe contraction and a disappointing rebound  \nIn the wake of the pandemic, the global economy will contract by an estimated 4.3 per cent this year, leaving global output by year’s end over $6 trillion short (in current US dollars) of what economists had expected it to be before the Covid-19 pathogen began to spread. And as domestic activity contracts, so does the international economy; trade will shrink by anywhere between 10 and 20 per cent this year, foreign direct investment flows by up to 40 per cent and remittances will drop by over $100 billion.  \nThe biggest output contractions will occur in the deve","cbCaikDY6EOpS0qt","https://ap.wps.com/l/cbCaikDY6EOpS0qt","pdf",178635,4,1,6,"English","en",105,"# Overview of the recession and recovery challenge\n# Policy coordination and market-household imbalance\n# Support measures, asset prices, and reform needs\n# Asymmetry between developing and developed economies\n# Projected contraction and rebound outlook\n# Regional impacts and drivers of decline\n# Relief packages and limits of life support","[{\"question\":\"What recovery plan does UNCTAD argue is needed now?\",\"answer\":\"UNCTAD calls for a global recovery plan that can return even the most vulnerable countries to a stronger position than before the crisis. It also emphasizes overdue reforms to the multilateral architecture to address fractures and tensions in the global economy.\"},{\"question\":\"Why does the statement doubt prospects for a strong recovery?\",\"answer\":\"It points to imbalance and disconnects, such as squeezed household budgets alongside booming stock markets, and rising distress among small and medium enterprises compared with better-capitalized larger corporations. It also questions whether early support will be channelled effectively and coordinated at the global level.\"},{\"question\":\"What are the estimated impacts on the global economy and key flows?\",\"answer\":\"The global economy is expected to contract by about 4.3% this year, with significant shortfalls in global output versus earlier expectations. Trade is projected to shrink by 10–20%, foreign direct investment flows by up to 40%, and remittances by more than $100 billion.\"}]","Statement by Mukhisa Kituyi - UNCTAD Development Committee 102nd Meeting Statement - October 16, 2020 | PDF",1784483044,15,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":29},"statement-by-mukhisa-kituyi-unctad-development-committee-102nd-meeting-statement-october-16-2020","",{"@graph":37,"@context":86},[38,54,69],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,52],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":51},"https://docshare.wps.com/document/research-report/",3,{"item":53,"name":13,"@type":44,"position":20},"https://docshare.wps.com/document/statement-by-mukhisa-kituyi-unctad-development-committee-102nd-meeting-statement-october-16-2020/109922/",{"url":53,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":24,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":42,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-07-31","2026-07-19",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"What recovery plan does UNCTAD argue is needed now?","Question",{"text":76,"@type":77},"UNCTAD calls for a global recovery plan that can return even the most vulnerable countries to a stronger position than before the crisis. It also emphasizes overdue reforms to the multilateral architecture to address fractures and tensions in the global economy.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"Why does the statement doubt prospects for a strong recovery?",{"text":81,"@type":77},"It points to imbalance and disconnects, such as squeezed household budgets alongside booming stock markets, and rising distress among small and medium enterprises compared with better-capitalized larger corporations. It also questions whether early support will be channelled effectively and coordinated at the global level.",{"name":83,"@type":74,"acceptedAnswer":84},"What are the estimated impacts on the global economy and key flows?",{"text":85,"@type":77},"The global economy is expected to contract by about 4.3% this year, with significant shortfalls in global output versus earlier expectations. Trade is projected to shrink by 10–20%, foreign direct investment flows by up to 40%, and remittances by more than $100 billion.","https://schema.org",{"og:url":53,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":53},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":93},[94,98,102,106,111,115,120,123,128,131,135],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":20,"doc_module":4,"doc_module_name":47,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":107,"doc_module":4,"doc_module_name":47,"category_name":108,"show_sort_weight":109,"slug":110},5,"Comic",60,"comic",{"id":22,"doc_module":4,"doc_module_name":47,"category_name":112,"show_sort_weight":113,"slug":114},"Technology",50,"technology",{"id":116,"doc_module":4,"doc_module_name":47,"category_name":117,"show_sort_weight":118,"slug":119},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":47,"category_name":125,"show_sort_weight":126,"slug":127},9,"Religion & Spirituality",20,"religion-spirituality",{"id":126,"doc_module":4,"doc_module_name":47,"category_name":129,"show_sort_weight":126,"slug":130},"World Cup","world-cup",{"id":132,"doc_module":4,"doc_module_name":47,"category_name":133,"show_sort_weight":132,"slug":134},10,"Lifestyle","lifestyle",{"id":136,"doc_module":4,"doc_module_name":47,"category_name":137,"show_sort_weight":107,"slug":138},19,"General","general"]