World Bank Says War to Cut Global Growth, Boosts Financing Target

World Bank President David Malpass speaks during a news conference at the Spring Meetings of the World Bank Group and IMF in Washington on April 11, 2019. James Lawler Duggan/Reuters

WASHINGTON—The World Bank is reducing its global growth forecast for 2022 by nearly a full percentage point, to 3.2 percent from 4.1 percent, due to the impacts from Russia’s invasion of Ukraine, World Bank President David Malpass said on Monday.