World Bank warns about economic risks-Budrigantrade com otzyvy
World Bank warns about economic risks-Budrigantrade com otzyvy
2023.01.07 11:13
World Bank warns about economic risks-Budrigantrade com otzyvy
Budrigantrade.com – The World Bank warns that “further adverse shocks” may cause the global economy to enter a recession in 2023, particularly for smaller nations.
The cautionary note can be found on the Open Knowledge Repository website of the organization and can be found in an abstract for the biannual “Global Economic Prospects” report, which is scheduled to be released on Tuesday.
According to the World Bank, this year’s global growth “is expected to decelerate sharply, reflecting synchronous policy tightening aimed at containing very high inflation, worsening financial conditions, and continued disruptions from Russia’s invasion of Ukraine.”
The lender with headquarters in Washington stated that “urgent global and national efforts” are required to mitigate the risk of such a downturn and debt distress in emerging market and developing economies (EMDEs), where investment growth is anticipated to remain below the average of the previous two decades.
According to the statement, “It is critical that EMDE policy makers ensure that any fiscal support is focused on vulnerable groups, that inflation expectations remain well anchored, and that financial systems continue to be resilient.”
As governments support businesses and households by limiting energy costs, central bankers from around the world have made similar demands as they aggressively raise interest rates to ease price pressures.
Kristalina Georgieva, managing director of the International Monetary Fund, opened the year 2023 by stating that the world was in for “a tough year, tougher than the year we leave behind.” In an interview that aired on January 1, she disclosed to CBS’s “Face the Nation” that the simultaneous slowdowns of the US, EU, and China will result in a recession affecting one-third of the global economy.
