World Bank Pres Malpass: If downside risks materialize, global growth could fall to 2.1% in 2022 and 1.5% in 2023, which would drive per capita growth close to zero
- Real threat that faster than expected tightening of financial conditions could push some countries into the kind of debt crisis seen in 1980s
- Danger of stagflation is considerable today
- Many countries will have a hard time avoiding recession; There is a downside risk of a global recession