The Washington PostThe Washington Post

Global economy struggles amid inflation, pandemic aftershocks and war

By David J. Lynch

07 Jun 2023 · 5 min read

informed Summary

  1. The World Bank has warned that the global economy is slowing dramatically due to higher interest rates.

A pair of central bank decisions next week will shape the outlook for a wobbly global economy that the World Bank warns in a downbeat new assessment is battling stubbornly high inflation amid the pandemic's aftermath and the war in Ukraine.

The gloomy forecast arrives days after one threat to global growth was eliminated when President Biden signed legislation Saturday to raise the U.S. debt ceiling and avert a potentially catastrophic government default.

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