The World Bank cut its forecast for global economic expansion this year on Russia’s invasion of Ukraine and is planning to mobilise a funding package bigger than the COVID-19 response for nations to deal with various resulting and ongoing crises.
The Washington-based institution has lowered its estimate for global growth in 2022 to 3.2 per cent from a January prediction of 4.1 per cent, president David Malpass told reporters on a call on Monday (Tuesday AEST).
