UNCTAD's March 2022 Trade and Development Report Update highlights the impact of the ongoing conflict in Ukraine on the global economy. The report emphasizes the need to prioritize stopping the war, rebuilding Ukraine's economy, and achieving a lasting peace settlement. However, the conflict is also causing widespread economic damage in many developing countries, with substantial additional help needed to mitigate economic, social, and political deterioration. The year 2022 was already expected to be a year of decelerating and uneven growth, and the unprecedented policy measures taken to recover from the pandemic have been asymmetric in their effects and short-term in scope. The report calls for a coordinated global response to address the economic challenges posed by the conflict and support developing countries in their recovery efforts.
