UNCTAD: financial crisis not overcome yet

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.