World Bank President Ajay Banga. File.
| Photo Credit: Reuters
World Bank President Ajay Banga stated on October 24 that geopolitic tensions pose the largest menace to the world economy, however that dangers “tend to move around” quick, so others shouldn’t be ignored.
“The U.S. 10-year Treasury [yield] just crossed 5% briefly yesterday, these are areas we haven’t seen. So yes, that is right there lurking in the shadows,” Banga stated through the annual Future Investment Initiative (FII) in Riyadh.
“And then, how long before the next pandemic?
“There is a lot occurring within the world and geopolitics within the wars that you just’re seeing and what simply occurred not too long ago in Israel and Gaza. At the top of the day, whenever you put all this collectively, I believe the impression on financial growth is much more critical,” he said.
“While every little thing appears higher than we anticipated it to look within the developed world a while in the past, I believe that we’re at a really harmful juncture.”
