Sovereign rating pressures rise due to war in Ukraine, inflation, slow growth

  • Global growth will fall to 2.6% from 3.3% in 2022, running below its potential of around 2.9%

  • The world economy enters a 'new normal' of more volatile growth, with inflation running higher for longer

  • Our overall sovereign outlook for 2023 is Negative: ratings downgrades are more likely next year than ratings upgrades

December 13th, 2022
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