new york – The World Bank and International Monetary Fund Spring Meetings typically provide a platform for various organizations, policymakers, and commentators to review the state of the global economy, assess developments in the previous year, and forecast future developments.
This year’s meeting, held in Washington in April, was accompanied by grim forecasts that underscore the growing likelihood of a prolonged global recession.
Many analysts have so far seen a combination of crises that the world has faced over the past three years: the COVID-19 pandemic, supply chain disruptions, the war in Ukraine and the resulting inflationary crisis and financial turmoil that will have a significant impact. Although we had expected that it would end up being a temporary impact on the global economy, new data suggests that the current economic upheaval will last longer than originally expected.
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