The Russian incursion into Ukraine is a “catastrophe” for the world, said the president of the World Bank, David Malpass, while warning about the negative impact of the war on global food supplies, prices, and further supply chain crunches.
Stressing that his biggest concern was the “pure loss of human lives,” Malpass pointed out that the Ukraine war comes at a “bad time” as the world is grappling with rising inflation. The economic fallout stretches beyond the borders of Ukraine, with the rising energy prices and inflation particularly hitting the poorest the most, he told BBC.
