The United Nations released here Monday a report recommending a massive economic stimulus packages to counter the global economic downturn.
The report, entitled the Global Outlook Report, is part of UN's assessment of the world economic situation in 2009, which presented at a four-day Follow-up International Conference on Financing for Development to Review the Implementation of the Monterrey Consensus, which opened here Saturday.
In the report, the UN recommends that massive and coherent economic stimulus must take place soon to counter the global economic downturn.
According to the report, the U.S. dollar and world per capita income will decline further next year, while export growth and capital inflows will fall and borrowing costs for developing countries will increase.
A massive economic stimulus packages "should come on top of the liquidity and recapitalization measures already undertaken by countries in response to the economic crisis," the report urged.
The world body also recommends stronger regulation of financial institutions, an overhaul of the international reserve system and a more inclusive global economic governance.
UN Secretary General Ban Ki-moon opened the UN-sponsered Doha international conference on financing for development on Saturday.
Leaders and delegates of 145 UN member states attended the conference under the scheme of "Addressing Common Concerns Through Renewed Cooperation."
Stressing the need of a truly global stimulus plan that meets the needs of emerging economies and developing countries, the UN chief said that the international community must deal with threats and challenges the world is facing "as one."
Source:Xinhua
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