World Bank President sees recession as likely in Europe - Plataforma Media

World Bank President sees recession as likely in Europe

The president of the World Bank (WB), David Malpass, said he sees a scenario of recession in Europe as likely, considering that it may take years for the world to find energy alternatives to Russia.

Malpass on Wednesday defined the global macroeconomic situation as a “perfect storm”, capable of leading to a situation of “stagflation”, that is, high inflation and low or no economic growth.

The WB president made these predictions in a speech at Stanford University, in the United States, entitled “The crisis faces development” and presented by the international financial institution as a prelude to the autumn meeting that will start in two weeks.

Read more in Dinheiro Vivo

Este artigo está disponível em: Português

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