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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
“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.<\/p>\n","protected":false},"excerpt":{"rendered":"
According to World Bank President David Malpas, Russia’s assault on Ukraine has averted a chain<\/p>\n","protected":false},"author":10,"featured_media":14472,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[215],"tags":[162],"class_list":["post-14470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","tag-ukraine"],"yoast_head":"\n