Author: News Editor

Monetary policy decisions Inflation continues to decline but is still expected to remain too high for too long. The Governing Council is determined to ensure that inflation returns to its 2% medium-term target in a timely manner. In order to reinforce progress towards its target, the Governing Council today decided to raise the three key ECB interest rates by 25 basis points. The rate increase today reflects the Governing Council’s assessment of the inflation outlook in light of the incoming economic and financial data, the dynamics of underlying inflation, and the strength of monetary policy transmission. The September ECB staff…

Despite geopolitical tensions and supply chain disruptions, countries continue to improve the trading environment by simplifying and digitalizing trade processes. According to the UN’s fifth global survey on digital and sustainable trade facilitation, an average of 68.6% — up by 6% since 2021 – of the general and digital trade facilitation measures outlined in the landmark Trade Facilitation Agreement of the World Trade Organization (WTO) have been implemented by countries worldwide. The survey analysed trade facilitation progress across 161 countries worldwide, as outlined in the “Digital and sustainable trade facilitation: Global report 2023” launched on 15 September. It covers some…

When it comes to understanding and fostering women’s economic empowerment, measuring the gender dimension of trade has emerged as an increasingly important endeavour. But for a long time, the lack of data on gender equality in international trade has posed a bottleneck, hampering countries’ abilities to apply the gender lens needed to design policies that equally empower women and men. To bridge this gap, UNCTAD in 2018 began developing a framework to help countries link existing national statistical data to assess gender in trade. The process, called “microdata linking”, offers a cost-effective and sustainable alternative to creating new one-off surveys.…

Female street vendors, locally known as “zungueiras”, are a defining characteristic in many Angolan cities. These informal traders – often carrying a large plastic bowl of goods on their heads, and a baby strapped to their backs – represent the resilience and perseverance of Angolans, who have navigated economic and political uncertainties since the country’s independence in 1975. Drawing on this reality comes “Zungueira Run”, one of Angola’s top video games with more than 50,000 downloads so far. Created by a group of young Angolan developers, the game’s success offers a glimpse of a more innovative economic future, says a…

Implemented as part of UNCTAD’s Debt Management and Financial Analysis System (DMFAS) programme, a recently concluded UNCTAD project has helped Mauritania improve its public debt management. The two-year project has helped improve the availability of the sub-Saharan African nation’s debt data. It lead to the publication of the country’s debt statistics bulletin in line with international standards. The bulletin now provides more comprehensive information on Mauritania’s public debt in a timely manner, enhancing transparency to inform policymaking and debt restructuring negotiations. While public debt can be vital for development, UN analysis highlights how it can become a heavy burden and…

Not everyone can turn the theft of a cell phone into a good experience. But then again, not everyone is Richard Odjrado. When this young Beninese entrepreneur’s phone was stolen – for a second time – he transformed calamity into ingenuity. Mr. Odjrado, 34, has created a revolutionary anti-theft tracker for smartphones that alerts the owner if the phone is moved without their permission, enabling them to locate it if it’s lost or stolen. The tracker is also operated from a smart watch he’s designed. He spent nearly two years researching and developing his anti-theft solution before launching his company…

The UN Conference on Trade and Development (UNCTAD) will hold the World Investment Forum 2023 to rally investments for climate action, clean energy, health care, food security and other development needs. Heads of state, more than 50 government ministers, over 150 CEOs of leading companies and stock exchanges, and thousands of investment stakeholders – from sovereign wealth fund managers and investment treaty negotiators to heads of international organizations – will participate in more than 130 events co-organized with over 80 partners. See the full programme. “As the world faces multiple crises, we urgently need investment stakeholders worldwide to ignite action,…

Cornwall Council has agreed to sell Grade II listed flats worth £640,000 for £1 to ensure affordable homes stay in a Cornish town centre. The council’s cabinet approved a recommendation to release the 11 Coastguard Flats in Looe to a community land trust to avoid costly maintenance. Three Seas Community Land Trust offered to carry out a £1m refurbishment through grant funding. Councillors said the deal meant it would remain as affordable housing. Second home ownership and holiday lets are blamed for a shortage of affordable housing in the county. Councillor David Harris, Cornwall Council’s deputy leader, said: “This will…

Output from the Scottish economy contracted across April to June, edged downward by lower wind speeds meaning lower power generation than usual. As with the UK as a whole, the long recession that was forecast last year is not happening, but the economy remains weak. Businesses have issued a harsh verdict on the Scottish government’s understanding of the environment in which businesses have to work, and its lack of engagement when planning policies that affect firms. Scotland’s economy is showing just one of the consequences of climate change – when the wind drops, so does Gross Domestic Product. That vital…