Abstract
The world economy and global geopolitics have not been this complex in many decades. Indeed, the clouds have further darkened in recent months, and the global economic outlook looks more uncertain. The pandemic, the disruptions in the supply chain, the persistent uncertainties and fallout from the war in Ukraine, the commodity price shocks, and the worldwide increase in inflation, all in one, are in motion to make the global financial system so different than what we used to know. Regarding economic management, policymakers worldwide are finding out that the water will be choppy for some time, and the waves will be big and many. The recently concluded Annual General Meetings of the IMF and the World Bank provided a grim picture of the outlook of the global economy, including a potential food crisis if the war in Ukraine continues for a longer period.
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