ANSWER: Making the International Financial Architecture Work for Development
Explanation:
UNCTAD released the Trade and Development Report 2015 at its Geneva HQ which found that the global economy is growing at 2.5% following 2008 financial meltdown and rebound in 2010. The growth rate for 2015 is expected to remain more or less unchanged from last year, at 2.5 per cent and developed nations are projected to grow at around 1.9 per cent, compared with 1.6 per cent in 2014. The reasons for this include growth in the eurozone and Japan’s moderate acceleration, although from very low rates. US is expected to continue post crisis growth trajectory and between 2012 and 2014, world merchandise trade increased between 2 to 2.5%.The report expects that India’s gross domestic product (GDP) is projected to grow at 7.5 per cent in 2015 as the pressure on current account deficit has been easing due to the lowering oil prices in the international market. India’s exports fell from 8.5% in 2013 to 3.2% in 2014 on account of negative trend in international economy.
