The crises we choose: Global recession, war or energy?

The pandemic has increased the global extreme poverty rate from an estimated 8.4 per cent in 2019 to 9.3 per cent in 2020. But the rich country ecosystem is noticeably silent on this

The annual meetings of the World Bank and the International Monetary Fund (IMF) are normally occasions where the establishment reinforces its faith in these institutions and the policy ecosystem presents its latest box of clever policy gadgets. This time is different because the world has changed. Two of these changes have caught the attention of the rich world. The need to urgently address the coming global recession, which, given war and elevated energy prices will likely be accompanied by high core inflation, has brought forth commentary from the best and the brightest and an expectation that multilateral institutions will rise