The UN Trade Conference prompts countries to relax financial policies to avoid global

(Geneva Composite Electric) UNCTAD UNCTAD urges central banks to relax financial policies to avoid global economic recession.

On Monday (October 3) of the Trade Conference, in the main annual report, the financial tightening policy may push the world economy to a severe stagnation.

In March of this year, the Trade Development Conference lowered the forecast of this year's global economic growth from 3.6 % to 2.6 %.It is now expected to grow by 2.5 % this year, and it will be further reduced to 2.2 % next year.The International Monetary Fund predicts that this year's growth rate is 3.2 %, and next year will be 2.9 %.

Trade and issuance conference warns that the currency and fiscal policy measures of developed economies can lead to global recession and long -term stagnation.

Trade and Development Conference pointed out that inadequate financial support may cause developing countries to face a serial crisis of debt increases, climate shocks, and recovery of major epidemic diseases.

Latin America's low -income countries and Africa's low -income countries will have a sharp economic slowdown this year.

It is recommended to control the soaring food energy prices

However, the Secretary -General of the Trade Conference Green Pan said: "There is still time to return from the edge of economic recession."

As the inflation of developed economies has begun to ease, the Trade Conference called for urgent "correction directions" and adopted policy measures such as surge in prices such as food and energy.

In order to combat inflation, the Trade Conference advocates a more pragmatic strategy, including price control, huge profit tax, antitrust measures, and stricter supervision of commodity speculation.