The invasion of Ukraine by Russia has caused prices to rise so high that a recession may be inevitable, explained World Bank President David Malpass. "Looking at global GDP it is hard to see how we will avoid a recession," David Malpass said, according to "Reuters" quoted by the Economic newspaper. "The idea of...
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World Bank President fears energy crisis will continue until 2023
The president of the World Bank, David Malpass, said that the crisis currently observed in the energy sector is a very present concern in his radar. According to Malpass, quoted by the portal "Isto é Dinheiro" this shock may "endure into next year". Malpass also mentioned the difficulties in the fertilizer sector related to the war between Ukraine and...
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WB says Covid-19 variants and rising debt threaten global economy
The World Bank (WB) says that global economic growth will be weaker for the next two years due to threats of Covid 19 variants and rising inflation, debt and social inequality. In its latest and first 2022 report, the WB says that despite economic growth...