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The World Bank has cut its global economic growth forecast for this year by nearly 1 percentage point.
The economic impact of Russia's invasion of Ukraine is cited as the main cause.
Correspondent Kim Jong-won from New York.
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The World Bank lowered its forecast for global economic growth from 4.1% to 3.2% by 0.9 percentage points.
The World Bank has lowered its growth forecast this much because of the Ukraine crisis.
It predicted that the overall growth rate of Europe and Central Asia, as well as Russia and Ukraine, which is the party to which it is concerned, would drop sharply by 4.1%.
It is also worrisome that global inflation in most fields such as energy, food, and fertilizer will become serious as China is tightening its containment policy to prevent the spread of the corona virus.
To solve this problem, the World Bank analyzed that the economies of developing and poor countries in particular are being hit directly as countries have raised interest rates.
World Bank President David Malpass has also said he is discussing additional financial aid for war-torn Ukraine.
Currently, the World Bank has provided more than $600 million in financial support to Ukraine, or more than 700 billion won in Korean money, and an additional support process close to 150 million dollars and 200 billion Korean won is in progress.
Meanwhile, the International Monetary Fund and the International Monetary Fund (IMF), like the World Bank, are also planning to lower the global economic growth rate, raising concerns that the world economy may fall into a long-term recession due to the Ukraine war.