
The United Nations has offered its annual assessment of prospects for 2016 in its World Economic Situation and Prospects (WESP) report. It opened with: “The world economy stumbled in 2015, amid weak aggregate demand, falling commodity prices and increasing financial market volatility in major economies.” In addressing the impact of the downward pressure on economies, UN ASG Lenni Montiel, explained that many countries, “specifically LDCs which rely on commodity exports, will be unable to sustain public spending on [...]