- Analytics
- News and Tools
- Market News
- World Bank President Malpass: Reducing global growth forecast for 2022 to 3.2% from 4.1%
World Bank President Malpass: Reducing global growth forecast for 2022 to 3.2% from 4.1%
World Bank President David Malpass said on Monday that the institution is reducing its forecast for global growth in 2022 to 3.2% from 4.1$ previously, reported Reuters.
Malpass noted that the bank has committed $11B for the purchase and deployment of vaccines in the current fiscal year, with total Covid-19 pandemic spending set to reach $157B in the fiscal year ending in June 2021.
Meanwhile, Malpass said the bank is preparing a new 15-month crisis response financing target of $170B, with $50B committed for use in the next three months. The new crisis envelope, he continued, would help address food insecurity, the refugee crisis and economic stress related to the war in Ukraine.
On central banks, Malpass said that they can help address inflation by using regulatory policies and shortening the duration of their bond portfolios. Long-term bonds tend to benefit countries that already have access to capital markets, he commented. Malpass added that central banks need more tools to address inflation, given that interest rate hikes alone will exacerbate rising inequality.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
