() World Bank President David Malpass is proposing a 15-month, crisis-financing plan of as much as $170 billion
Related Russia Will Not Use Nuclear Weapons in Ukraine, Says Foreign Minister Sergei Lavrov
by , April 20th, 2022
The World Bank has reduced its forecast for global growth in 2022 by nearly a full percentage point, citing the impact of Russia’s unprovoked invasion of Ukraine.
World Bank President David Malpass said Monday that the bank is shrinking its expectations from 4.1% to 3.2% in response to the ongoing economic stresses of the war.
He told reporters that he is proposing a 15-month, crisis-financing plan with a target of $170 billion and the goal of committing about $50 billion of the financing over the next three months.
The most significant factor that led into the bank’s forecast reduction was a 4.1% contraction in the Europe and Central Asian region, which includes Ukraine, Russia and their neighboring nations.
Developing nations have also had their forecasts cut due to spikes in food and energy prices caused by supply disruptions.
“We’re preparing for a continued crisis response, given the multiple crises,” Malpass said. “Over the next few weeks, I expect to discuss with our board, a new 15-month crisis response envelope of around $170 billion to cover April 2022 through June 2023.”
The crisis financing will help support nations that have taken in refugees from Ukraine in addition to aiding countries experiencing food shortages.
The plan follows a prior $160 billion COVID-19 financing program.
The International Monetary Fund on Tuesday also cut its global growth forecast.
“I felt like I was getting a cold, but Agarikon stopped it in its tracks.”
Organic AGARIKON fights Viruses & Bio-warfare, and much more!
10 times more effective than ribavirin against Herpes (HSV1, HSV2), Swine flu (H1N1), Bird flu (H1N4), Pox (cowpox). Studied by the DoD for the Bioshield program.
Get your Agarikon biodefense from Ascent Nutrition, one of the most pure and potent in the industry.
Save 10% and get free shipping with a subscription!
About The Author
Sophie Mann is a Fast Filer for Just the News. She is a former Bartley Fellow at the Wall Street Journal. She graduated from Scripps College with a BA in Government. Sophie is a co-founder of Roundtable Productions, which most recently produced the short film Wax Paul Now (2019).
Stillness in the Storm Editor: Why did we post this?
The news is important to all people because it is where we come to know new things about the world, which leads to the development of more life goals that lead to life wisdom. The news also serves as a social connection tool, as we tend to relate to those who know about and believe the things we do. With the power of an open truth-seeking mind in hand, the individual can grow wise and the collective can prosper.
– Justin
Not sure how to make sense of this? Want to learn how to discern like a pro? Read this essential guide to discernment, analysis of claims, and understanding the truth in a world of deception: 4 Key Steps of Discernment – Advanced Truth-Seeking Tools.
Stillness in the Storm Editor’s note: Did you find a spelling error or grammatical mistake? Send an email to corrections@stillnessinthestorm.com, with the error and suggested correction, along with the headline and url. Do you think this article needs an update? Or do you just have some feedback? Send us an email at sitsshow@gmail.com. Thank you for reading.
Source:
DIRECT DONATION
Support our work! (Avoid Big Tech PayPal and Patreon)
Leave a Reply