U.N. agency sees no early recovery from recession

United Nations economists said on Monday there would be no early recovery from global recession and warned that any move to ease back quickly on government stimulus programmes could make the crisis worse.

In its annual report, the U.N. trade and development agency UNCTAD also urged the creation of a new world reserve system using several currencies rather than just the U.S. dollar, and called for tough controls on cross-border financial flows.

"The likelihood of a recovery in the major developed countries that would be strong enough to bring the world economy back to its pre-crisis growth path in the coming years is quite low," the report said. (more)