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World economic outlook: Countering the cost-of -living crisis

IMF IMF 2022-10-17
Report on cost-of-living crisis, tightening financial conditions in most regions, Russia’s invasion of Ukraine, and the lingering COVID-19 pandemic all weigh heavily on the outlook. Global growth is forecast to slow from 6.0 % in 2021 to 3.2 % in 2022 and 2.7 % in 2023. This is the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the COVID-19 pandemic. Global inflation is forecast to rise from 4.7 % in 2021 to 8.8 % in 2022 but to decline to 6.5 percent in 2023 and to 4.1 % by 2024. Monetary policy should stay the course to restore price stability, and fiscal policy should aim to alleviate the cost-of-living pressures while maintaining a sufficiently tight stance aligned with monetary policy. Structural reforms can further support the fight against inflation by improving productivity and easing supply constraints, while multilateral cooperation is necessary for fast-tracking the green energy transition and preventing fragmentation. The executive summary and full report is available.
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Highlighted Sources

Asia and the Pacific regional overview of food security and nutrition 2022: Urban food systems and nutrition – Launch recording, Key messages & Full report

  • Policy
  • Research
  • Article
  • Press release
  • Report
  • Video
  • COVID-19 Pandemic
  • Economic
  • Food Insecurity
  • Health
  • Nutrition
  • Ukraine War
  • Women and/or Girls
2023-01-24
Press release on the launch and key messages of the fifth annual Asia-Pacific regional SOFI report. The report’s highlights capture the challenges and system-level determinants of unhealthy diets in urban areas, both regarding undernutrition and overweight. It presents, among others, data on food security and affordability and the state of progress on achieving the global nutrition targets. The findings profile various urban environments, interventions, experiences, and opportunities to innovate at multiple levels to transform urban areas into sustainable cities. A link to the report's virtual launch event is available including the recording, key messages, and full report. View Source

Impacts of the COVID-19 pandemic on diets, nutrition services & nutrition practices in UNICEF’s Eastern and Southern Africa Region (ESAR): Evidence from remote surveys

  • Research
  • Report
  • COVID-19 Pandemic
  • Economic
  • Food Insecurity
  • Health
  • Nutrition
  • Women and/or Girls
2023-01-01
Report on the impact of the COVID pandemic on diets, services, and practices in the Eastern and Southern Africa region. The report presents findings from remote surveys in six ESAR countries with data on breastfeeding, diet diversity, food consumption and insecurity, drivers of dietary changes, and disruptions to nutrition services. The survey provides important learning for the future use of remote methods for collecting nutrition data. Technical brief, pull report, and six country briefs are available. View Source

Economic shocks predict increases in child wasting prevalence

  • Research
  • Article
  • Journal article
  • COVID-19 Pandemic
  • Economic
  • Food Insecurity
  • Health
  • Nutrition
  • Other Crises
  • Social Support and Protection
2022-04-20
Article on the impact of severe negative economic shock on child acute malnutrition (wasting), a major risk factor for under-5 mortality. In low- and middle-income countries (LMICs) macroeconomic volatility is common, and severe negative economic shocks can substantially increase poverty and food insecurity. Less well understood are the implications of these contractions for child wasting. This study explores the nutritional impacts of economic growth shocks over 1990–2018 by linking wasting outcomes collected for 1.256 million children from 52 countries to lagged annual changes in economic growth. Estimates suggest that a 10% annual decline in national income increases moderate/severe wasting prevalence by 14.4–17.8%. An exploration of possible mechanisms suggests negative economic shocks may increase risks of inadequate dietary diversity among children. Applying these results to the latest economic growth estimates for 2020 suggests that COVID-19 could put an additional 9.4 million preschoolers at risk of wasting, net of the effects of preventative policy actions. View Source