World Bank President David Malpass walks during the official welcome ceremony of G7 leaders and Outreach guests at Castle Elmau in Kruen, near Garmisch-Partenkirchen, Germany, on Monday, June 27, 2022. The Group of Seven leading economic powers are meeting in Germany for their annual gathering Sunday through Tuesday. (AP Photo/Markus Schreiber)

World Bank Chief: We’re at a crisis, countries fall in one by one

World Bank President David Malpass said the global economy will significantly slow down due to high inflation, which will cause political problems in a number of countries. In an interview Sunday, Malpass said the US and it’s allies need to increase production of goods and services, while keeping their economies open and not restrict international trade.