Serial

Europe and Central Asia Economic Update, Spring 2022 : War in the Region

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collection.link.286
https://openknowledge.worldbank.org/handle/10986/22789
collection.name.286
Europe and Central Asia Economic Update
dc.contributor.author
World Bank
dc.date.accessioned
2022-04-05T21:07:12Z
dc.date.available
2022-04-05T21:07:12Z
dc.date.issued
2022-04-10
dc.date.lastModified
2022-04-20T05:10:32Z
dc.description.abstract
In February 2022, the world was shocked by the Russian Federation’s invasion of Ukraine. The war is having a devastating impact on human life and causing economic destruction in both countries, and will lead to significant economic losses in the Europe and Central Asia (ECA) region and the rest of the world. It comes at a particularly vulnerable time for ECA as its economic recovery was expected to be held back by scarring from the pandemic and lingering structural weaknesses. The economic impact of the conflict has reverberated through multiple channels, including commodity and financial markets, trade and migration links, and the damaging impact on confidence. Moreover, the war has added to mounting concerns about a sharp global slowdown, surging inflation and debt, and a spike in poverty levels. Neighboring ECA countries are likely to suffer considerable economic damage because of their strong trade, financial, and migration links with Russia and Ukraine. The war is also causing a destabilizing wave of refugees, financial stresses in vulnerable countries, runaway inflation expectations, and food insecurity. A protracted conflict could further heighten policy uncertainty and fragment critical trade and investment networks.
en
dc.identifier.isbn
978-1-4648-1866-0
dc.identifier.uri
http://hdl.handle.net/10986/37268
dc.publisher
Washington, DC: World Bank
dc.relation.ispartofseries
Europe and Central Asia Economic Update;13
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
ECONOMIC FORECASTS
dc.subject
WAR AND CONFLICT
dc.subject
ECONOMIC IMPACT
dc.subject
INEQUALITY
dc.subject
POLICY RECOMMENDATIONS
dc.title
Europe and Central Asia Economic Update, Spring 2022
en
dc.title.subtitle
War in the Region
en
dc.type
Serial
en
okr.date.disclosure
2022-04-10
okr.doctype
Publications & Research :: Annual Report
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/978-1-4648-1866-0
okr.language.supported
en
okr.region.administrative
Europe and Central Asia
okr.region.geographical
Central Asia
okr.region.geographical
Eastern Europe
okr.region.geographical
Europe
okr.region.geographical
Europe and Central Asia
okr.topic
Conflict and Development
okr.topic
Macroeconomics and Economic Growth
okr.topic
Poverty Reduction
okr.unit
Office of the Chief Economist, Europe and Central Asia Region

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