UNCTAD launched the report “The Global Economic Crisis: Systemic Failures and Multilateral Remedies"
19 Mar 2009
The Report has been prepared by the UNCTAD interdivisional Task Force on Systemic Issues and Economic Cooperation set up by the UNCTAD Secretary General in late 2008. It provides a sober analysis of the reasons of the global economic crisis.
The Report highlights the ways in which the global economy experienced systemic failures, examining causes, implications and responses.
The areas which UNCTAD identifies as the core areas to be tackled immediately by international policy-makers are:
Ø Financial deregulation
Ø The growing role of large-scale financial investors on commodity futures markets
Ø The role of widespread currency speculation in exacerbating global imbalances and the current crisis
The Report contends that the systemic failures these issues have entailed have to be approached through recognition of their multilateral dimensions and proposes measures to address them.
Source:UNCTAD
