The World Bank has lowered their growth forecast for global growth to 3.2% from 4.1%. IMFs Malpass says:
- Expects more countries to announce contributions to Ukraine this week through multi-donor trust fund
- Conditions in Afghanistan one of the world's biggest tragedies
- Central banks need more tools to address inflation, interest rate hikes alone will exasperate rising inequality
- Long-term bond's tend to benefit countries that already have access to capital markets
- Central banks can help address inflation by using regulatory policies, shortened duration of bond portfolios
- New crisis envelope to address food insecurity, refugees crisis, economic stresses related to Ukraine war
- World Bank preparing new 15 month crisis response financing target of the hundred and $170 billion with $50 billion committed over the next three months
- World Bank will have committed $11 billion to purchase and deploy vaccines in the current fiscal year, total Covid spending to reach $157 billion in fiscal year ending June 2021
