The Wall Street JournalThe Wall Street Journal

Developing countries face stiff economic headwinds, World Bank chief says

By Yuka Hayashi

28 Sep 2022 · 3 min read

This WSJ feature looks at why the World Bank chief thinks that emerging economies will face extreme challenges and why he's afraid that the global slowdown could deepen into global recession.

Curated by informed

The head of the World Bank warned that developing nations face an extremely challenging near-term outlook, as the sharp slowdown in global growth raises the risks of a prolonged recession.

Speaking Wednesday at Stanford University, David Malpass said the challenges for the developing world are shaped by higher food, fertilizer and energy prices caused by the war in Ukraine, as well as rising interest rates, currency depreciation and capital outflows, which could result in a shortage of funds needed to support people’s lives and economic activities.

The news, curated.

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