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Global economic recovery slows as risks bite in 2022, and more

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Global economic recovery slows as risks bite in 2022

By Dennis Shen

The global economic recovery is slowing as elevated commodity prices, weakened economic sentiment and rapid tightening of global rates take their toll. There will be uneven growth across many economies after the crystallisation of multiple downside risks, such as rising inflation, central bank tightening, Russian aggression in Ukraine, emerging market vulnerabilities and a correction of bubbly financial asset markets. Faster policy tightening will prevent inflation from becoming more deeply engrained but it raises the risk of policy mistakes that exacerbate financial instability.

 Tax cuts will not solve stagflation
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By Brian Reading
In the Lilliputian war of Tory succession, all rivals are promising lower taxes. None can explain how this will end stagflation or solve the cost-of-living crisis. Lower taxes will make matters worse by redistributing income to those that can afford losses and away from those who can’t. 
 
 MEETINGS 
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Prospects for emerging markets
Tuesday 6 September, Broadcast
Ayhan Kose, chief economist and director of the prospects group in the equitable growth, finance and institutions practice group of the World Bank, joins Mark Sobel, US chair, OMFIF, for a discussion on the global macroeconomic outlook. 
 
 ON DEMAND 
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Why do we need a social taxonomy?
Elia Trippel, policy analyst at the Organisation for Economic Co-operation and Development, speaks with Katerina Atkins, programme coordinator of OMFIF’s Sustainable Policy Institute, about the objectives and metrics of a social taxonomy and its development in the European Union. 
 
 LATEST REPORT
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Sustainable Policy Institute Journal
In the summer edition of the journal, contributors lay out why the ‘S’ in ESG is becoming a priority for investors and why social and human rights issues are taking centre stage.

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