The Ukraine conflict is fueling “overlapping problems.”

According to World Bank President David Malpas, Russia’s assault on Ukraine has averted a chain reaction in the global economy, which would have resulted in higher oil and food prices, worsening poverty and hunger and exacerbating debt worries.

In the face of these “overlapping crises,” the head of the development bank encouraged advanced countries to maintain markets open by reducing trade obstacles and changing wealth-concentration policies.

The battle broke out as the world economy struggled to recover from the Covid-19 outbreak, even as additional Chinese lockdowns cast doubt on the recovery.

“Never before have so many countries been hit by a recession at the same time, resulting in the loss of capital, jobs, and livelihoods.” “At the same time, inflation is continuing to rise,” Malpas said.