This issue of the South Bulletin focuses on the recent deterioration in the state of the global economy and the effects this will have on developing countries.

The Bulletin also gives details of the Conference co-organised by the South Centre on Options that developing countries have in facing the global financial turmoil.
 Below are the highlights of the Bulletin:

• Bracing for a New Global Financial Crisis (by Martin Khor):   Developing countries are bracing themselves to face the hazards of a new global financial and economic crisis. Prominent experts at a South Centre conference warned about the coming new crisis and the scenarios of how this would affect the South. 

• The End of Recovery And Start Of A New Global Downturn  (by Y?lmaz Akyüz):   Presentation by the South Centre's Chief Economist which gave a comprehensive and incisive analysis of how the global economic recovery came to an end, and why we are on the brink of a new global downturn. 

• A Lot of Uncertainties and Volatilities Facing Developing Countries:  Presentation by Dr Yaga Venugopal Reddy,  former Governor of the Reserve Bank of India (the Central Bank), on the wide range of uncertainties facing developing countries and the global economy, and the problems with reforms in regulation and the financial architecture.

• Three possible scenarios as South faces the next crisis:  Presentation by Dr Charles Soludo, former Central Bank Governor of Nigeria, on why developing countries have to prepare now for the next crisis and the three scenarios on how the world could approach the global financial turbulence.  

• Recent Developments in the Agenda of Global Financial Reform: The introduction and conclusion of a paper on the state of reform of the global financial regulation regimes, presented by Andrew Cornford, a specialist on global financial policy issues. 

• Report on the Conference on Global Financial Turbulence: Options for Developing Countries:  A report of the sessions and discussions that took place at the South Centre conference on 25 May 2011.

To download the entire South Bulletin, please  click here

• Bracing For A New Global Economic Crisis
• The End of Recovery And Start Of A New Global Downturn
• A Lot of Uncertainties and Volatilities Facing Developing Countries
• Three Scenarios As South Faces the Next Global Crisis
• Recent Developments in the Agenda of Financial Reform
• International Conference on Global Financial Turbulence: Options for Developing Countries