David Malpas, during a conference of the American Chamber of Commerce, pointed out Germany, the world’s fourth-largest economy, is already experiencing a significant slowdown in GDP growth due to rising energy prices.
The World Bank chairman added that limited access to fertilizers would worsen the economic situation in other countries. – When looking at the global PKP, it’s hard to imagine how we can avoid it Recession Malpas said.
Following Russia’s invasion of Ukraine, Malpas declared that the World Bank would “do all it can to support the Ukrainian people.” In late April, the bank announced that it would spend $ 170 billion over the next 15 months on low-income countries affected by the economic consequences of the war in Ukraine.
Poor countries are the worst hit by food shortages caused by war. According to the UN, 36 countries import more than half of their wheat from Russia and Ukraine, including some of the poorest and most vulnerable countries, such as Lebanon, Syria, Yemen, Somalia and the Democratic Republic of the Congo.
The World Food Program (WFP) estimates that About 22 million tons of grain are stored in Ukrainian warehousesRussia cannot blockade Black Sea ports. The British Foreign Office on Friday accused Russian officials of using food as a weapon and called for an immediate end to the siege of Ukrainian ports.
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