Development policy and international economic cooperation

The beginning of 1995 saw the global economy in strong condition. Although the growth of output rate—around 3 per cent—was not very rapid, it was unusually widespread and appeared to be sustainable. The developed market economies had emerged from the recession of the early 1990s, the situation in the transition economies was encouraging, and the developing countries were in their fourth year of relatively strong economic growth. Latin America, however, was experiencing a contractionary phase following the exchangerate crisis in Mexico in late 1994, which spread financial shock over the region. Although growth was expected to strengthen in Africa in 1995, economic activity was affected by civil strife in a number of countries, and inadequate or irregular rainfall curtailed agricultural production in others.

Sustainable Development Goals:

Peace, Justice and Strong Institutions

Partnerships for the Goals