A Recovery for All
As the global recession ebbs, the most urgent imperative is recovery for all – a recovery that is inclusive, expands employment opportunities, reduces inequalities, and sustains development processes. Instead, the world's poor face the prospect of bearing the brunt of the global drive for fiscal consolidation.
NEW YORK – Over the last two years, the majority of countries in the world chose to expand public spending in order to buffer the impact of the global financial crisis on their economies and populations. But, this year, with signs of economic recovery emerging, advanced countries have quickly shifted from fiscal stimulus to fiscal consolidation.