Monthly Global Forecast | October 2022

Politics and Governance

The Brazilian General Elections will be held on 2nd October, 2022

Brazil will elect its new President, Vice President and National Congress in the general elections that will commence from 2nd October, 2022. Brazil is the largest economy and most populous country of the Latin America, where the time period leading up to elections will be marked with high polarisation between left-wing Luiz Inácio Lula da Silva and the right wing Jair Bolsonaro, who is also the current president of the country.  Bolsonaro is leading a liberal party with the mission of social conservatism with law and order, while Lula is leading a Workers party with the aim to bring the stability and spirit that Brazil had during his previous tenures. However, whichever party will secure the winning position will have to face a host of socio-economic challenges that are prevailing in Brazil.

The 20th National Congress of Chinese Communist Party will be Held on 16th October, 2022

On October 16th, 2022 the Chinese president Xi Jinping will be elected for his third term during CCP’s national congress. The national congress is a week-long meeting held every five years in Tiananmen Square, Beijing. The meeting will not b held publicly, instead it will be a closed-door meeting held at the Great Hall of People attended by approximately 2300 members of the CCP. Apart from cementing Xi’s third term, the congress will also make new promotions in the central committee along with expectedly new additions in the Politburo Standing Committee (PSC). Moreover, the congress will also review the developments in domestic and international situations.

Defence and Security

United States and United Kingdom will Enforce Data Access Agreement w.e.f. 3rd October, 2022

US and UK will make a ground-breaking development in security cooperation with the Data Access Agreement that will come to force on October 3, 2022. This agreement will allow both governments to directly access the “vital data” of respective telecommunication operators in order to combat transnational crimes and enhance national security. The agreement will be a symbol of “new era of cooperation” between both states and will help them combat crimes including terrorism. The civil rights proponents have opposed the agreement arguing that it subjugates privacy rights of UK and US citizens but both governments find the agreement to be consistent with their goal to give security and protection to their citizens from serious crimes.

Special Meeting of Security Council Terrorism Committee will be Held on 28th and 29th October, 2022

The United Nations Security Council will organize a special meeting of its terrorism committee on 28th and 29th October which will be hosted by India in Mumbai and New Delhi. This will mark as the seventh special meeting of the Security Council Terrorism Committee. The meeting will focus on the theme of “countering the use of new and emerging technologies for terrorist purposes”. Under the agenda, the meeting will focus on three key areas of emerging technology development. These will include; use of emerging technologies by states in their counter-terrorism practices, abuse of emerging technologies by terrorist groups and lastly, the terrorism financing through emerging technologies.

Energy and Environment

World Habitat Day will be Observed on 3rd October, 2022

The World Habitat Day is observed every year on the first Monday of the month of October, same will follow this year on Monday, October 3rd. It was observed for the first time in 1986 with the purpose of reminding people that habitat of the future generations is dependent on their actions. This year, the World Habitat Day will be observed under the theme of “Mind the Gap. Leave No One and Place Behind”. This theme will reflect upon the challenges and inequalities that are prevailing in human settlements. The aim of this theme will be to draw attention on the vulnerable groups in times of crises such as Covid-19, climate change etc.

International Ministerial Conference on Nuclear Power in the 21st Century will be held from October 26 to October 28, 2022 in Washington D.C., USA

The significance of nuclear power is increasing day by day. States that possess nuclear energy have the capacity to collectively generate 390 gigawatts of nuclear power. Keeping in view this significance the International Atomic Energy Association (IAEA) will be organizing International Ministerial Conference on Nuclear Power in the 21st Century which will be 5th of its kind. The objective of this conference will be to engage officials and policymakers in dialogue on attaining clean energy through nuclear energy sources along with the issues and challenges associated with its deployment. The agenda behind the meeting will be to make progressive developments towards achieving Net Zero carbon emissions and sustainable energy sources.

Trade and Economics

The Organisation for Economic Co-operation and Development (OECD) Forum on Green Finance and Investment will be Held from October 5 to October 7, 2022

In its forum on Green Finance and Investment to be held from 5th to 7th October, OECD will emphasize on the theme of “Moving from Commitments to Actions in the Decade for Delivery: Towards Impactful Green and Sustainable Finance”. It will be the 9th OECD forum of its kind and will be held virtually. The agenda of the forum will revolve around sustainable finance issues which will be discussed by delegates from finance and policymaking industries. The forum will engage high level officials in the action-oriented discussions based on emergence of transition finance, financing infrastructure resilience and adaptation, sustainable finance etc.

World Bank Group and International Monetary Fund (IMF) will Conduct their Annual Meetings from October 14 to October 16, 2022

The meetings of Board of Governors, IMF International Monetary and Financial Committee and the Development Committees will be held from 14th to 16th October, 2022. The meetings will take place in IMF and World Bank headquarters in Washington DC. They will focus on core economic issues including poverty eradication and aid effectiveness. The meetings will be held in-person; however, the virtual audience will also be able to follow the meetings on IMF and World Bank’s digital platforms. Along with economic concerns, both groups will also monitor the global health situation. Overall, they will asses the situation of economic development in accordance with the current world economic outlook.

Social Issues

World Mental Health Day will be Observed Globally on 10th October, 2022

Under the auspices of World Health Organization, the World Mental Health Day will be observed on October 10, 2022 to emphasize on the theme of “Make mental health and well-being for all a global priority” globally prioritizing mental health and well-being for all. This day will bring together people from all fields and corners of the world including governments and policy advocates to recognize the importance of mental health. The day will be marked with wearing green ribbons that are the international symbol for mental health awareness. It will also provide an opportunity to the people with mental health conditions to talk about their problems and seek help for their mental health struggles.

The 11th Global Media and Information Literacy Week will be Commemorated from October 24 to October 31, 2022

The United Nations Educational, Scientific and Cultural Organization in collaboration with the Media and Information Literacy Alliance and Media and Information Literacy and Intercultural Dialogue will conduct the Global Media and Information Literacy Rate that will be hosted by Nigeria. In this week-long event, the political as well as academic representatives will engage in discussions and keynote addresses to celebrate the theme of “media and information literacy for all”. Media and Information literacy has become an important element shaping people’s critical analysis and interpretive abilities which is why this week will bring people from all across the globe to facilitate joint efforts of professions and disciplines in strengthening media and information literacy.

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