BONN (GERMANY)
THE US, several global development banks and other groups on Wednesday unveiled a multi-billion dollar plan to stave off a worldwide food security crisis worsened by Russia's war in Ukraine, a key danger facing an increasingly fragile world economy.
The invasion has touched off a sharp increase in energy and food prices that are now contributing to a slowdown in growth, prompting Treasury Secretary Janet Yellen to note the risk of stagflation.
"The economic outlook globally is challenging and uncertain," Yellen said. "And higher food and energy prices are having stagflationary effects, namely depressing output and spending and raising inflation all around the world." Yellen said the US is best positioned to meet this economic challenge due its strong jobs market, yet she noted that food shortage is a global threat that needs to be addressed.
Bu hikaye The New Indian Express Chennai dergisinin May 19, 2022 sayısından alınmıştır.
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Bu hikaye The New Indian Express Chennai dergisinin May 19, 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
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