United Nations report sees little change in global economic crisis

According to a report released by the UN Department of Economic and Social Affairs (DESA), there is little likelihood of a turnaround in the near term. The report places blame squarely at the foot of not only policymakers in Europe, but in the US as well.

The full report can be viewed at http://www.un.org/en/development/desa/policy/wesp/index.shtml

“Failure of policymakers, especially those in Europe and the United States, to address the jobs crisis and prevent sovereign debt distress and financial sector fragility from escalating poses the most acute risk for the global economy in the outlook for 2012-2013,” the report states.

The report did find evidence that Africa will continue to move forward and could realize an increase in its overall growth from 2.7 per cent in 2011 to 5 per cent in 2012 and 5.1 per cent in 2013.


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