There is a high risk of a global recession due to central banks’ anti-inflationary measures, a statement says The world is “on the edge of a recession,” the United Nations Conference on Trade and Development (UNCTAD) warned on Monday in its report, citing aggressive monetary policies in advanced economies. According to the report, higher interest rates, including hikes by the US Federal Reserve, could trigger an economic downturn even worse than the 2008 recession. “All regions will be affected, but alarm bells are ringing most for developing countries, many of which are edging closer to debt default,” the report
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