"ECONOMIC CONDITIONS"

In Fiji imported food prices have gone up on average by 7 percent, leaving families searching for cheaper alternatives. To address the problem, women farmers in Fiji have been learning how to substitute imported goods like flour with homegrown varieties. IFAD

Presenting the Secretary-General’s Sustainable Development Goals (SDGs) stimulus plan, the Administrator of the United Nations Development Program (UNDP) Achim Steiner said the plan “calls for a measurable increase in resources available to combat the current crisis of at least 500 billion dollars a year through expanded lending, and potentially over 1.8 trillion.” UNIFEED

The IMF announced that global growth is expected to slow from 3.4 percent in 2022 to 2.9 percent in 2023 in a press briefing held in Singapore to mark the launch of the January update of the World Economic Outlook report. IMF

According to a new UN report, world output growth is projected to decelerate from an estimated 3 percent in 2022 to 1.9 percent in 2023, marking one of the lowest growth rates in recent decades. UNIFEED

Global growth is slowing sharply in the face of elevated inflation, higher interest rates, reduced investment, and disruptions caused by Russia’s invasion of Ukraine, according to the World Bank’s latest Global Economic Prospects report. WORLD BANK GROUP

Amid global conflict, economic uncertainty, General Assembly adopts text highlighting transformative power of sport to achieve peace, sustainable development.

UN Special Envoy for Syria Geir Pedersen told the Security Council, “I have warned of the dangers of military escalation in Syria. I am here in person today to tell you that escalatory dynamics are taking place, and this is worrying and dangerous.” UNIFEED

Briefing journalists today in New York, Michael Fakhri, Special Rapporteur on the Right to Food, said, “in the last two years, there's been a global consensus that everyone must transform their system, and the food crisis is only getting worse.” UNIFEED

In a wide-ranging interview with IMF, President of the European Central Bank Christine Lagarde highlighted tackling inflation as the key challenge over the coming months. IMF

As the global economy is suffering turbulent times, the IMF has warned Governments that they must reduce budget deficits incurred during the pandemic. The warning comes as energy and food prices soar, causing extreme poverty worldwide. IMF