Global inflation is forecast to finish 2022 at 8.8%, settling in at around 6.5% in 2023. So is a global recession imminent? David Malpass, President of the World Bank, discusses the global economy with Ian Bremmer on the GZERO World.
Malpass places the odds of a global recession at 50/50. Efforts to combat inflation in the developed world could spur a debt crisis in the developing one, and optimism for a speedy post-pandemic recovery has faded as Putin’s war in Ukraine has strained the global supply chain. But the World Bank chief is most worried about the poorest countries going backwards on their development goals. He also discusses climate change and confirms that he is not a climate science denier.