Publication:
Global Economic Prospects, June 2022

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dc.contributor.authorWorld Bank
dc.date.accessioned2022-03-28T19:03:34Z
dc.date.available2022-03-28T19:03:34Z
dc.date.issued2022-06
dc.description.abstractThe world economy continues to suffer from a series of destabilizing shocks. After more than two years of pandemic, the Russian Federation’s invasion of Ukraine and its global effects on commodity markets, supply chains, inflation, and financial conditions have steepened the slowdown in global growth. In particular, the war in Ukraine is leading to soaring prices and volatility in energy markets, with improvements in activity in energy exporters more than offset by headwinds to activity in most other economies. The invasion of Ukraine has also led to a significant increase in agricultural commodity prices, which is exacerbating food insecurity and extreme poverty in many emerging market and developing economies. Numerous risks could further derail what is now a precarious recovery. Among them is, in particular, the possibility of stubbornly high global inflation accompanied by tepid growth, reminiscent of the stagflation of the 1970s. This could eventually result in a sharp tightening of monetary policy in advanced economies to rein in inflation, lead to surging borrowing costs, and possibly culminate in financial stress in some emerging market and developing economies. A forceful and wide-ranging policy response is required by policy makers in these economies and the global community to boost growth, bolster macroeconomic frameworks, reduce financial vulnerabilities, provide support to vulnerable population groups, and attenuate the long-term impacts of the global shocks of recent years.
dc.identifierhttps://documents.worldbank.org/en/publication/documents-reports/documentdetail/099355006072293045/idu0e94d9de80f675045770a99b033f67b449448
dc.identifier.doi10.1596/978-1-4648-1843-1
dc.identifier.isbn978-1-4648-1843-1
dc.identifier.urihttps://hdl.handle.net/10986/37224
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesGlobal Economic Prospects;
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectPOST-PANDEMIC RECOVERY
dc.subjectCOVID-19 RECOVERY
dc.subjectWORLD ECONOMY 2022
dc.subjectECONOMIC RECOVERY RISK
dc.subjectUKRAINE WAR IMPACT
dc.subjectCOMMODITY MARKETS
dc.subjectSUPPLY CHAIN IMPACT
dc.subjectGLOBAL INFLATION
dc.subjectGLOBAL GROWTH SLOWDOWN
dc.subjectSTAGFLATION
dc.subjectAGRICULTURAL COMMODITY PRICES
dc.subjectMONETARY POLICY TIGHTENING
dc.subjectMACROECONOMIC FRAMEWORK
dc.subjectECONOMIC POLICY RESPONSE
dc.subjectDEVELOPING ECONOMIES
dc.subjectGLOBAL SHOCKS
dc.titleGlobal Economic Prospects, June 2022en
dc.typeSérielfr
dc.typeSeriales
dc.typeBook
dspace.entity.typePublication
okr.doctypePublications & Research
okr.guid099355006072293045
okr.identifier.doi10.1596/978-1-4648-1843-1
okr.identifier.report172256
okr.language.supporteden
okr.region.geographicalWorld
okr.topicMacroeconomics and Economic Growth::Commodities
okr.topicMacroeconomics and Economic Growth ::
okr.topicMacroeconomics and Economic Growth::Economic Forecasting
okr.topicMacroeconomics and Economic Growth::Economic Conditions and Volatility
okr.unitEFI - Prospects Group (EPGDR)
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