World Bank , Shares 'Grim Outlook' , For Global Economy in 2022.
The BBC reports that World Bank president David Malpass has warned that the global economy is facing a "grim outlook.".
The BBC reports that World Bank president David Malpass has warned that the global economy is facing a "grim outlook.".
According to Malpass, the bleak forecast is the result of the ongoing pandemic impeding growth, particularly in poor countries.
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According to Malpass, the bleak forecast is the result of the ongoing pandemic impeding growth, particularly in poor countries.
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The World Bank predicts that global growth will slow to 4% in 2022, as compared to 5.5% in 2021.
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Malpass said that his largest concern is widening global inequity, which leaves poorer countries especially vulnerable to economic damage.
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The big drag is the inequality that's built into the system, David Malpass, World Bank president, via the BBC.
The outlook for the weaker countries is still to fall further and further behind.
That causes insecurity, David Malpass, World Bank president, via the BBC.
The outlook for the weaker countries is still to fall further and further behind.
That causes insecurity, David Malpass, World Bank president, via the BBC.
The reality is that Covid and the shutdowns are still taking a huge toll and that's especially true on people in poorer countries.
Just a grim outlook, David Malpass, World Bank president, via the BBC.
The BBC also reports that the World Economic Forum warned that faltering economic recovery will make it harder to collaborate on global challenges like climate change.
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The BBC also reports that the World Economic Forum warned that faltering economic recovery will make it harder to collaborate on global challenges like climate change.
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Widening disparities within and between countries will not only make it more difficult to control Covid-19 and its variants, but will also risk stalling, if not reversing, joint action against shared threats that the world cannot afford to overlook, WEF Annual Global Risks Report, via the BBC.
Widening disparities within and between countries will not only make it more difficult to control Covid-19 and its variants, but will also risk stalling, if not reversing, joint action against shared threats that the world cannot afford to overlook, WEF Annual Global Risks Report, via the BBC