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World Bank Cuts 2023 Forecasts and Warns of Global Recession

  • Inflation, interest-rate hikes and war among main challenges
  • Urgent global action needed to mitigate contraction, debt risk
Bloomberg business news
World Bank's Malpass on Global Economic Outlook for 2023

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The World Bank slashed its growth forecasts for most countries and regions, and warned that new adverse shocks could tip the global economy into a recession.