World Bank's Malpass says war in Ukraine may trigger global recession

World Bank's Malpass says war in Ukraine may trigger global recession

World Bank President David Malpass on Wednesday suggested that Russia's war in Ukraine and its impact on food and energy prices, as well as the availability of fertilizer, could trigger a global recession.

Russia-Ukraine War Could Cause Global Recession, Says World Bank Chief David Malpass | 🌎 LatestLY

He also told a virtual event organised by the US Chamber of Commerce that moves by Russia to cut gas supplies could cause a "substantial slowdown" in the region. He said higher energy prices were already weighing on Germany, which is the biggest economy in Europe and the fourth largest in the world, the BBC reported. 🌎 Russia-Ukraine War Could Cause Global Recession, Says World Bank Chief David Malpass.

Russia Ukraine Conflict Could Cause Global Recession, Says World Bank Chief

David Malpass, chief of the World Bank. has warned that Russia's ongoing invasion of Ukraine could cause a global recession as the price of food, energy and fertiliser jump.

War in Ukraine may trigger global recession, says World Bank chief: Report

Last month the World Bank reduced 2022 global growth forecasts from 4.1 per cent to 3.2 per cent - due to the impact of Russia's war on Ukraine.

Ukraine war: World Bank boss warns over global recession

The head of the World Bank has warned that Russia's invasion of Ukraine could cause a global recession as the price of food, energy and fertiliser jump.

Ukraine war: World Bank boss warns over global recession

The head of the World Bank has warned that Russia's invasion of Ukraine could cause a global recession as the price of food, energy and fertiliser jump. David Malpass told a US business event on Wednesday that it is difficult to "see how we avoid a recession". He also said a series of coronavirus lockdowns in China are adding to concerns about a slowdown. His comments are the latest warning over the rising risk that the world economy may be set …