Developing Countries Face Stiff Economic Headwinds, World Bank Chief Says

WASHINGTON – The head of the World Bank warned that developing countries face an extremely challenging outlook in the near term as the sharp slowdown in global growth increases risks of a prolonged recession.

speech on Wednesday at Stanford University, David Malpass said the challenges facing developing countries are characterized by higher food, fertilizer and energy prices due to the war in Ukraine, as well as rising interest rates, currency devaluation and capital outflows, which could lead to a lack of funds to sustain people’s lives are needed and economic activities.

https://www.wsj.com/articles/developing-countries-face-stiff-economic-headwinds-world-bank-chief-says-11664422212 Developing Countries Face Stiff Economic Headwinds, World Bank Chief Says

Alley Einstein

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