UNCTAD: FINANCIAL CRISIS NOT OVERCOME YET

/PanARMENIAN.Net/
04.12.2009 14:43 GMT+04:00

/PanARMENIAN.Net/ Moscow Higher School of Economics (HSE) and the
United Nations Conference on Trade and Development (UNCTAD) Virtual
Institute held Thursday a videoconference dedicated to the presentation
of the UN Committee Report on Trade and Development 2009.

Global economic recession and evaluation of short-term crisis relief
measures were in the focus.

The discussion was attended by the author of the report, Dr. Heiner
Flassbeck, Director of Division on Globalization and Development
Strategies at the UNCTAD, and Dmitry Lyakishev, Head of Trade
Policy Section in the Russian Mission in Geneva, a PanARMENIAN.Net
correspondent reported from Moscow.

"It’s noteworthy that discussion followed WTO Ministerial Conference
which was held in Geneva from November 30 to December 2," Dmitry
Lyakishev said.

"Crisis will not be overcome unless we determine its causes," Dr.

Flassbeck said.

Dwelling on crisis relief measures, Flessback pointed out to the
effectiveness of governmental stabilization programs.

He also remarked that the economy of developing countries and of
those depending on export of fuel may be subject to crisis.

"New bubbles in the world economy may burst sooner or later," he said.