Financial Leaders Are Now Warning Of A Global Economic Slowdown Aggravated By The Russia - Ukraine War

Jeff Stein, Washington Post: Global leaders warn of economic dangers as crises multiply 

BONN, Germany — The financial leaders of the world’s most powerful countries warned this week of the potential for a global economic slowdown, as the threats caused by Russia’s invasion of Ukraine continued to multiply. 

Globally, the war is sending energy and food prices soaring. In the United States, Britain and Europe, central banks determined to curb inflation are moving to hike interest rates, which risks pushing nations into recession. The developing world faces an emerging debt crisis on top of a growing hunger problem sparked by the war. 

In the United States, as in much of the rest of the world, gasoline prices surged and stock markets plunged, with the S&P 500 index nearing a bear market, closing the week down 18 percent off its early January peak after a late Friday rally. Large retailers, including Target and Walmart, have reported worse than expected earnings and profits this week, blaming higher costs and excess inventory that piled up in response to supply chain problems.  

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WNU Editor: Many of these economic dangers were already present and growing before the Russia - Ukraine war. But as the economic problems continue to multiply the Russian - Ukraine war is becoming the excuse that many world leaders, in particular Western leaders, are blaming for why their country is experiencing these difficulties.

These 10 Countries Are Facing The Biggest Humanitarian Crises In 2020

A Syria Civil Defence member carries a wounded child in the besieged town of Hamoria in Eastern Ghouta on January 6, 2018. Reuters

Business Insider: These 10 countries face the biggest humanitarian crises in 2020

* The International Rescue Committee humanitarian group has published its annual "Emergency Watchlist" listing the ten countries facing the world's worst crises in 2020.
* These countries combined are home to less than 6% of the global population, but produced 74% of the world's refugees, the IRC said.
* The crises they face largely include armed conflict, disease epidemics, and natural disasters, and so far see no signs of stopping.
* Scroll down to see the list and why.

Every year, the International Rescue Committee (IRC) lists the ten countries facing the world's biggest humanitarian crises, in an effort to highlight the vast amount of work world leaders and aid workers need to do.

These countries combined are home to less than 6% of the global population, but produced 74% of the world's refugees, the IRC noted.

The crises that they face — which largely include armed conflict, disease epidemics, and natural disasters — have changed little since last year, highlighting the "protracted nature of many of these crises and collective failure of the international community to resolve their root causes," the IRC said.

Scroll down to see the countries on the IRC's "Emergency Watchlist," and the issues they face.

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WNU Editor: Six of the tens countries on the list are from Africa. I am also surprised that Libya is not on the list.

Somalia, Congo Among 'Top 10' World Crises

A soldier walks toward a distribution center on Dec. 19, near Lushubere Camp
in Masisi, northwest of Goma, in Congo.

From MSNBC:

Doctors Without Borders releases annual list on Sunday

NEW YORK - Spiraling violence in Somalia, forced civilian displacements in eastern Congo, and neglected medical emergencies in Myanmar and Zimbabwe were among the Top 10 humanitarian crises of 2008, according to an annual list released Sunday by Doctors Without Borders.

Other crises on the group's list included: malnutrition, which claims 5 million young lives across the globe each year; HIV-tuberculosis co-infections, killing some 1.7 million people annually; fighting in Pakistan's tribal areas; the politicization of aid distribution in Iraq; violence and harsh climatic conditions in southeastern Ethiopia's Somali region; and the continuing Darfur crisis and civil war in Sudan.

"With the release of this list, we hope to focus much needed attention on the millions of people who are trapped in conflict and war, affected by medical crises, whose immediate and essential health needs are neglected, and whose plight often goes unnoticed," Dr. Christophe Fournier, the group's International Council President, said in a statement.

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My Comment: The list is comprehensive, and I will not disagree with its choices. I would have highlighted the drug war in Mexico, and I would have have pointed out the conflict in the Caucasus as being a situation that is ongoing.