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Prospects for the Global Crisis: 2013 Report on the International Situation

Prospects for the Global Crisis: 2013 Report on the International Situation

The most recent economic crisis began with the 2008 financial meltdown in the most developed countries, with successive quarterly dips in GDP growth (recession) and loss of jobs as its most evident indicators. Since then, the crisis and its impacts have reverberated in all regions of the world and have further crippled the capacity of most developing countries to develop further. There have been some signs of recovery, including improved financial market conditions in the second half of 2012. But generally, levels of growth and job generation “needed to drive a real global recovery” remain absent, and stronger negative factors have been pulling down the real economy.