World News for Students of English

24-02-2023 07:00

The world and the markets are in a very different place from last February when Russia’s invasion of Ukraine started.

Senior politicians and military leaders are debating the West’s further response to the war in Ukraine. The Security Conference in Munich, Germany, came days before the anniversary of Russia’s invasion, a conflict that reshaped commodity and energy flows and pushed up inflation and funding pressures globally.

European stocks have risen in line with the recovery in business sentiment and activity, and the region may escape recession. The European Central Bank may decide to keep raising rates due to high inflation.

Difficult international discussions over debt forgiveness get underway in India. Top of the agenda is the G20 Common Framework debt pact to allow the restructuring of low-income countries’ debts after the global health crisis.

Difficult words: commodity (a substance or product that can be traded, bought, or sold), business sentiment (the overall health of the business environment), debt forgiveness (when a country or organization forgives a debt that doesn’t have to be paid back).

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