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Tags: world bank | david malpass | global recession | ukraine war

World Bank's Malpass: Ukraine War Could Trigger Global Recession

David Malpass
World Bank President David Malpass, speaking in Washington, D.C. (Getty Images)

Wednesday, 25 May 2022 03:42 PM EDT

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.

Malpass told an event hosted by the U.S. Chamber of Commerce that Germany, the world's fourth largest economy, has already seen a substantial economic slowdown due to higher energy prices, and said limited access to fertilizer could worsen conditions elsewhere

"As we look at the global GDP (gross domestic product) ... it's hard right now to see how we avoid a recession," Malpass said.

© 2022 Thomson/Reuters. All rights reserved.


StreetTalk
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.
world bank, david malpass, global recession, ukraine war
97
2022-42-25
Wednesday, 25 May 2022 03:42 PM
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