The brutal effects of Russia’s invasion of Ukraine are devastating the global economy. The World Bank is slashing its global growth forecast for 2022 by nearly a full percentage point. World Bank Chief Economist Carmen Reinhart warned that the downgraded projection of 3.2% growth could end up being too optimistic amid QUOTE ‘exceptional uncertainty’ for the global economy. Global finance leaders are in Washington this week for joint meetings of the International Monetary Fund and World Bank. Food insecurity, skyrocketing inflation and the rising risk of debt crises in poorer countries will top the agenda.
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