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For big and small nations across the globe, the prospect of averting a recession is fading.
That grim prognosis got here in a report Tuesday from the World Financial institution, which warned that the grinding conflict in Ukraine, provide chain chokeholds, COVID-19-related lockdowns in China, and dizzying rises in vitality and meals costs are exacting a rising toll on economies all alongside the earnings ladder. This suite of issues is “hammering development,” David Malpass, the financial institution’s president, mentioned in a press release. “For a lot of international locations, recession might be laborious to keep away from.”
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KEYWORDS
World Financial institution, world economic system
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