Opinion: The World Bank’s gloomy economic outlook might be too optimistic | Stephen Bartholomeusz
is expected to shrink by 8.9 per cent. Both those forecasts are quite optimistic when compared to most private sector forecasts.
That would export tighter financial conditions through the rest of the world, probably triggering financial crises in some developing economies akin to the disaster that has unfolded in Sri Lanka. The impact of the war and sanctions on Russia and Ukraine’s other commodity exports could also feed further into their inflationary effects.
Those risks are magnified by the record levels of global debt after the most aggressive level of fiscal stimulus since World War II.
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