Home
Forums
New posts
Search forums
What's new
New posts
New media
New media comments
New resources
New profile posts
Latest activity
Media
New media
New comments
Search media
Resources
Latest reviews
Search resources
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Public Forums
FINANCIAL - News, Alerts, Intel Release
World Bank: Less Developed Countries Facing Major Recession
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Donald" data-source="post: 1120" data-attributes="member: 1"><p>The World Bank put out a statement saying that less developed countries in the world face a major recession as a result of the war in Ukraine, as well as the consequences of the COVID-19 lockdowns as the cost of energy and food continue to rise globally. </p><p></p><p>David Malpass, the President of the World Bank says that there is also a major risk of high inflation and small growth, which is also called 'stagflation'. </p><p></p><p>Malpass said that "The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, the recession will be hard to avoid". </p><p></p><p>"Subdued growth will likely persist throughout the decade because of weak investment in most of the world. With inflation now running at multi-decade highs in many countries and supply expected to grow slowly, there is a risk that inflation will remain higher for longer". </p><p></p><p>Although the countries that will be immediately affected in 2022, according to a World Bank forecast are Russia and Ukraine, it warned of long-term effects [from the war and COVID lockdowns] that will likely have much wider effects. </p><p></p><p>Malpass said, "Even if a global recession is averted, the pain of stagflation could persist for several years - unless major supply increases are set in motion".</p></blockquote><p></p>
[QUOTE="Donald, post: 1120, member: 1"] The World Bank put out a statement saying that less developed countries in the world face a major recession as a result of the war in Ukraine, as well as the consequences of the COVID-19 lockdowns as the cost of energy and food continue to rise globally. David Malpass, the President of the World Bank says that there is also a major risk of high inflation and small growth, which is also called 'stagflation'. Malpass said that "The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, the recession will be hard to avoid". "Subdued growth will likely persist throughout the decade because of weak investment in most of the world. With inflation now running at multi-decade highs in many countries and supply expected to grow slowly, there is a risk that inflation will remain higher for longer". Although the countries that will be immediately affected in 2022, according to a World Bank forecast are Russia and Ukraine, it warned of long-term effects [from the war and COVID lockdowns] that will likely have much wider effects. Malpass said, "Even if a global recession is averted, the pain of stagflation could persist for several years - unless major supply increases are set in motion". [/QUOTE]
Verification
Post reply
Home
Forums
Public Forums
FINANCIAL - News, Alerts, Intel Release
World Bank: Less Developed Countries Facing Major Recession
Top