Russia's war in Ukraine is derailing the global economy's recovery from the pandemic. The Organisation for Economic Cooperation and Development (OECD) is the latest to slash its forecast for economic growth, warning of high inflation and a possible food crisis. Also in the show: India's central bank raises interest rates for the second time in less than a month, while Turkey's government refuses to do so, despite spiralling inflation.
The Organization for Economic Cooperation and Development is warning that Russia's war in Ukraine will disrupt commerce and clog up supply chains, slashing economic growth and pushing prices sharply higher around the globe.
The rate of price rises across the 38 members of the OECD hit 5.8 percent in November, the highest since 1996. In the United States, the head of the Federal Reserve, Jerome Powell, has warned that high inflation poses a "severe threat" to the jobs market, ahead of the release of the latest figures there on Wednesday. FRANCE 24's Business Editor Stephen Carroll examine the factors driving the spike in inflation, and how long it might last.
2 Dec 2021
The OECD says recovery is being held back by supply bottlenecks and labor shortages. Calling for swifter vaccinations, it warns growth could be further derailed by new variant omicron.
31 Oct 2021
The global minimum tax is supposed to bring tax justice. But not even half of Africa's countries are on board. Kenya and Nigeria have backed out amid uncertainty over how much the measures would benefit poor countries.
24 Apr 2021
Around the world, students are suffering from a year of pandemic restrictions, exacerbated by the lack of a comprehensive strategy to lift schools into the digital age . Germany is no exception.
11 Mar 2021
Coronavirus vaccine rollouts and a huge US stimulus package have boosted economic growth expectations.
2 Dec 2020
The world economy will make a spectacular comeback aided by vaccine rollouts and government support, the OECD says. But by then, the pandemic will have dealt some painful, enduring blows in many countries.
21 Jun 2020
The global economy is facing its worst peacetime crisis in almost 100 years, according to the Organisation for Economic Co-operation and Development. In its latest forecast, the OECD warns the effects of the slump will be "dire and long-lasting" after a 6 percent plunge in global growth this year.