World Bank Chief Economist Carmen Reinhart said on Tuesday, further downgrades to the growth outlook remain on the table, as the global economy passes through a period of “exceptional uncertainty,” per Bloomberg.
Her comments come a day after the Washington-based lender slashed its estimate for global growth in 2022 to 3.2% from a January prediction of 4.1%, in the face of a protracted Russia-Ukraine war.
World Bank President David Malpass said on Monday, the bank is preparing a new 15-month crisis response financing target of $170B, with $50B committed for use in the next three months.
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