oecd

Rich countries must strengthen financial market regulation and bring down their oversized government deficits, two of the biggest new challenges to have arisen from the global economic crisis, the OECD said Wednesday.

The economic rebound in developed economies is still timid and not enough to make a dent in unemployment, the Organization for Economic Co-operation and Development said Thursday.

Unemployment in leading industrialized nations will hit a new postwar record next year, surpassing the current high, as the global economy looks set for only a timid recovery in 2010, the OECD said in a report Wednesday.

The world economy is headed for an earlier recovery than previously forecast, although the pace of the rebound will likely remain modest for some time to come, the OECD said Thursday.

The world economy is headed for an earlier recovery than previously forecast, although the pace of the rebound will likely remain modest for some time to come, the OECD said Thursday.