World Bank President Ajay Banga. File.
| Photo Credit: Reuters
World Bank President Ajay Banga stated on October 24 that geopolitic tensions pose the largest risk 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 throughout the annual Future Investment Initiative (FII) in Riyadh.
“And then, how long before the next pandemic?
“There is a lot happening within the world and geopolitics within the wars that you simply’re seeing and what simply occurred not too long ago in Israel and Gaza. At the top of the day, while you put all this collectively, I feel the impression on financial growth is much more severe,” he said.
“While every thing appears higher than we anticipated it to look within the developed world a while in the past, I feel that we’re at a really harmful juncture.”