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World Bank president Ajay Banga yesterday said the war in the Middle East would result in some degree of slower growth in the global economy and higher inflation, regardless of how quickly it ended.
Banga, speaking at an event hosted by the Atlantic Council, said the World Bank was able to quickly disburse billions of dollars in funding to countries affected by the war using its crisis windows, as it did during the height of the Covid-19 crisis.
He said the World Bank and International Monetary Fund will discuss how to help countries hit hard by rising energy prices and supply chain disruptions as a result of the war.
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