🔗

Index-only document

This document is listed as metadata with a link to its original source: the licence does not allow redistribution or we do not generate a preview. Consult the document on the source site.

Go to the original site ↗

Source: World Bank Open Knowledge Repository

Why don't we host this file?

The licence of this document does not allow us to redistribute copies. We list its verified metadata and link you to the official source, where the file is always up to date.

Introductory Remarks by World Bank Group President David Malpass at the State of the Global Economy Event Organized by Brookings Institution

World Bank, Washington, DC

🛡CC BY 3.0 IGOPermitted use with attribution

pages: 4
Format: PDF
Size: 70.7 KB
Views: 0
Downloads: 0

Source: World Bank Open Knowledge Repository ↗ · Report an issue

Shared byAishwarya Sharma›

Abstract

These opening remarks were made by World Bank Group President David Malpass at the State of the Global Economy Event Organized by Brookings Institution on July 13, 2022. Mr. Malpass said the world is facing multiple crises, including the sharpest slowdown in GDP growth in 80 years, the risk of a frozen crisis in Ukraine due to Russia's invasion, and a massive worsening in global inequality as advanced economies absorb the limited supplies of global capital and energy. Global growth is not expected to rebound in 2023, given energy supply constraints; the long overdue normalization of interest rates and bond yields in the advanced economies; and the misallocation of investments that has pushed much of the world’s savings into bonds, mostly bonds issued by governments and overcapitalized borrowers. The global economy is also facing significant downside risks. These include intensifying geopolitical tensions, the fragility in many countries, the potential for an extended period of stagflation, the widespread financial stress that's caused by the higher borrowing costs, and food insecurity.

Index-only document

Related documents

Participation in WTO Dispute Settlement : Complainants, Interested Parties, and Free Riders

How Effective Are Active Labor Market Policies in Developing Countries?

Lost at Sea

Global Investment Competitiveness Report 2017/2018

Tax Capacity and Tax Effort : Extended Cross-Country Analysis from 1994 to 2009

Bangladesh : The Path to Middle-Income Status from an Urban Perspective