6 July 2012 (room XXVI - from 10:00 to 13:00) - The impacts of the international crises on the economies of the LDCs
The international financial and economic crisis brought to a halt the period of accelerated economic growth which the LDCs had experienced from 2003 to 2008. The negative impacts aggravated the difficulties caused by the food and energy crises, which had already adversely affected LDCs, especially the net importers of these products. The impacts of these combined crises were quite differentiated among LDCs. All of them experienced a growth slowdown, but some fared much worse and underwent two consecutive years of recession. The effects of the crises are likely to also affect the LDC economies in the medium term, when the Istanbul Programme of Action for 2011–2020 is carried out.
The course will address the channels of transmission of the international crises to LDCs: trade, FDI, ODA, remittances. It will also look at the contrasting performance of different groups of LDCs since 2008: macroeconomic developments and social trends. It will also discuss the role of diversification in production, exports and economic partnerships, and also the medium-term outlook for the LDCs.
Delivered by: Division for Africa, Least Developed Countries