World Bank: Sanctions will have a greater impact on world production than war

Penalties will have greater impact global economic output than the war in Ukraine itself warned on Monday World Bank President David Malpa

Speaking at an online event hosted by the Washington Post, the World Bank president noted, however, that he expects a strong response from producers around the world to increase supplies when needed, and added that he sees no need to stockpile kitchens. houses and restaurants.

Malpas warned individuals and businesses do not store food and gasoline despite the rise in prices caused by the Russian invasion of Ukraine and the massive sanctions imposed on Moscow.

It is noted that the World Bank announced today that it will provide almost $ 200 million in additional financial assistance to Ukraine in order to strengthen social services for vulnerable groups of the country’s population. It is recalled that last week the disbursement of another 723 million dollars was approved.

Funding is part of a support package $ 3 billion that the World Bank had announced that it was preparing for Ukraine in the coming months.

Russia’s Finance Ministry prepares to service part of its foreign currency debt on Wednesday, but these payments will be made in rubles if sanctions prevent banks from paying debt in the currency of issue, the ministry warned on Monday, according to Reuters.

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