WHAT CAUSED THE GLOBAL FINANCIAL CRISIS
As inflation accelerated, the war clouded the outlook for the world economy. Global economic prospects have taken a serious setback, mainly due to Russia's invasion of Ukraine. The crisis comes at a time when the global economy has yet to fully recover from the pandemic. The crisis was triggered by the stock market crash caused by the economic bubble; the sharp decline in population consumption; the overproduction of agriculture, which created an enormous surplus of goods; and the high leverage of the economy and companies. The International Monetary Fund raised its 2022 forecast for global GDP growth from 4.9% to 4.4% and the World Bank to 4.1% from 4.3%. Rising inflation in 2021 is a common phenomenon: the United States, the Eurozone, Latin America and Eastern European countries are some examples.
To get out of the crisis, it was decided to trade in assets on the stock exchanges and cryptocurrencies.
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The content of this post appears to be a paraphrase of information shared by the following source.
https://www.nytimes.com/2022/04/19/business/economy/imf-world-economy-inflation.html
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