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Added on the 05/05/2022 16:11:44 - Copyright : France 24 EN
The world's economic outlook is "much more pessimistic" as a result of the war in Ukraine, warns Secretary-General Mathias Cormann, as the OECD slashes its 2022 growth forecast and projects higher inflation. SOUNDBITE
The fallout from the war in Ukraine is "will put additional upward pressure on near-term inflation here at home," Federal Reserve Chair Jerome Powell says in a press conference following a two-day Monetary Policy Committee meeting. SOUNDBITE
UN chief Antonio Guterres warns that he fears the likelihood of further escalation in the Russia-Ukraine conflict means the world is heading towards a "wider war." "The prospects for peace keep diminishing. The chances of further escalation and bloodshed keep growing," he added as explained his 2023 priorities plan to the UN General Assembly. SOUNDBITE
Indonesian President Joko Widodo tells G20 members they must avoid another world war as he opens a leaders' summit dominated by Russia's invasion of Ukraine in Bali. SOUNDBITE
A perfect storm of doom has been pummeling the global economy in recent months, undermining global growth expectations, but the IMF warns the worst-case scenario is plausible, which would cut growth to one of the lowest levels in the past five decades. SOUNDBITE
Paolo Gentiloni, European Commissioner for Economy, announces that the EU is sharply cutting its eurozone growth forecast for 2022 to 2.7 percent as the bloc struggles with skyrocketing energy prices due to the war in Ukraine. SOUNDBITE
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