Shock of War Threatens Lasting Impact on Global Economy

The world economy will pay a “hefty price” for the war in Ukraine encompassing weaker growth, stronger inflation and potentially long-lasting damage to supply chains, the OECD said. The organization slashed its outlook for global growth this year to 3% from the 4.5% it predicted in December and doubled its inflation projection to nearly 9% for its 38 member countries, according to forecasts released on Wednesday in Paris. In 2023, it expects growth to slow to 2.8%. -- More...