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Global economy LIVE | OPEC+ ministers agree to cut production as gas prices tick up in US

Mount Equity Group Tokyo Japan > News > Markets > Global economy LIVE | OPEC+ ministers agree to cut production as gas prices tick up in US

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The United Nations have warned of an impending global slowdown that may likely be worse than the financial crisis in 2008 and the COVID-19 shock in 2020.

In its Trade and Development Report 2022, the UN Conference on Trade and Development (UNCTAD) warned that the world is “on the edge of a recession” and developing nations like those in Asia could bear the brunt of it.

It said that monetary and fiscal policies in advanced economies — including continued interest rate hikes — could push the world toward a global recession and stagnation.

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