Inevitable?

This panel will examine various policies implemented by the United States that are significantly impacting the world economy, which is facing a serious economic downturn. The World Bank this week projected that global economic growth will fall to 1.7% this year, the worst in about three decades, other than the downturns of 2009 and the 2020 pandemic recession. The World Bank noted that "urgent action is needed to attenuate the risk of global recession stemming, in part, from the fastest and most synchronized monetary tightening in decades."

This panel will explore the severe economic pressures on developing countries resulting from US policies, including interest rate hikes, sanctions, and support for harmful IMF policies like surcharges. The panel will also discuss policy alternatives including the issuance of Special Drawing Rights (SDRs) and debt relief measures for highly indebted nations, and explain how pursuing these alternatives costs the US very little and can yield significant economic and national security benefits for our nation.