TNT: Tishwash: The World Bank launches an appeal: More countries are starting to collapse
The World Bank has accused the “leading” central banks of pushing the global economy into a “devastating” recession next year, if interest rates are raised “too dramatically” in the coming months.
The World Bank called on monetary authorities in major economies to coordinate their actions to reduce the overall impact of the tightening, the Financial Times reported.
The World Bank urged governments to provide targeted relief to vulnerable families rather than relying on tighter monetary policy.
World Bank President David Malpass said momentum in the global economy was waning and more countries were already starting to collapse.
“My deep concern is that these trends will continue, with devastating long-term consequences for people in emerging markets and developing economies,” he added link
