As the world was drawing closer to claiming victory against COVID-19, another conflict erupted. With geopolitical tensions in Eastern Europe rising considerably, the global economy's outlook turned toward an uncharted path of conflict and sanctions. With unstable inflation forecasts, longer-than-expected supply chain disruptions, and pandemic-induced commodity market imbalances, worldwide already-uneven recovery from the COVID-19 repercussions was already precarious. Furthermore, the latest lockdown wave in China has reminded us that pandemic threats are not out of the picture just yet, and the world must brace itself for COVID's long-term shadows.
Mona Bedeir
Chief Economist
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