United Nations Warns of Looming Global Recession Sparked by ‘Excessive’ Monetary Tightening

United Nations Warns of Looming Global Recession Sparked by ‘Excessive’ Monetary Tightening
Image of national flags in front of United Nations headquarters in Geneva, Switzerland. Fabrice Coffrini / AFP
Katabella Roberts
Updated:
0:00

The United Nations (UN) on Monday warned that a global recession and prolonged stagnation lie ahead, driven by the monetary and fiscal policies of advanced economies, including that of the U.S. Federal Reserve.

In its Trade and Development (UNCTAD) report, the international body warned that all regions of the globe would be affected by a recession, but stressed that developing countries would edge closer to debt default unless central banks in advanced economies revert their course of action.
Katabella Roberts
Katabella Roberts
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Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
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