David Malpass says "it's too early to say" if the war in Ukraine will lead to a global recession
BBC: Ukraine war is economic catastrophe, warns World Bank
The war in Ukraine is "a catastrophe" for the world which will cut global economic growth, the president of the World Bank has told the BBC.
"The war in Ukraine comes at a bad time for the world because inflation was already rising," said David Malpass.
He stressed his biggest concern is "about the pure human loss of lives" that is occurring.
Thousands of civilians and soldiers are thought to have been killed by the fighting.
Mr Malpass said the economic impact of the war stretches beyond Ukraine's borders, and the rises in global energy prices in particular "hit the poor the most, as does inflation".
Food prices have also been pushed up by the war, and "are a very real consideration and problem for people in poor countries".
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WNU Editor: The World Bank has halt all programs in Russia and Belarus .... World Bank halts programs in Russia, Belarus (Axios). More here .... World Bank ends programs in Russia and Belarus (The Hill).
The World Bank and the IMF are providing $5 billion in emergency funding to Ukraine .... Russia-Ukraine crisis: World Bank, IMF to fund Ukraine with over $5 billion (Nairametrics).
1 comment:
So if Putin occupies all of Ukraine like a NAZI, does the IMF have to give Fuehrer Putin the 5 Billion?
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