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World Bank’s Malpass says war in Ukraine may trigger global recession -Breaking


© Reuters. FILEPHOTO: World Bank President David Malpass attends an event at the Diaoyutai guesthouse in Beijing (China), November 21 2019. REUTERS/Florence Lo

WASHINGTON (Reuters), a Wednesday statement by David Malpass, President of the World Bank, suggested that Russia’s invasion in Ukraine could cause a recession. He also mentioned its effects on food and energy prices and availability of fertiler.

Malpass spoke at an U.S. Chamber of Commerce event and stated that Germany’s fourth-largest economy has seen an already significant economic slowdown because of higher energy prices. He also said that limited fertilizer access could lead to worsening conditions elsewhere.

Malpass stated, “As we examine the global GDP…it’s difficult right now to understand how we avoid recession.”