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Together in Recovery

NEW YORK – The United Nations’ recently released World Economic Situation and Prospects mid-year report warns that the global economy is at risk of a severe downturn, unless world leaders’ short-term mindset gives way to a focus on medium- and long-term policies. Furthermore, greater international cooperation and coordination are crucial to achieving a strong, sustained, and inclusive recovery.

Such a recovery requires efforts to create jobs and enhance countries’ productive capacity – for example, through infrastructure development – thereby encouraging complementary private investments and generating the conditions necessary to sustain long-term growth. This, in turn, implies the need to balance coherent macroeconomic policies with structural transformation goals.