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Key Takeaways

The Ukraine war and China's ongoing property crash could result in the worst wave of corporate defaults since the global financial crisis. The MENA region is in a “critical” food security situation amid the conflict in Ukraine. Ukraine warns that Russian war atrocities are likely not limited to Bucha. Analysis: Conflict Update: 2022 Hotspots in North Africa and the Horn. Analysis: Ukraine War Update: War Crimes, Finger Pointing, Frozen Reserves.

Condition Updates

A rundown of important global risk developments in markets, in business, and region by region. 

Analysis: Conflict Update: 2022 Hotspots in North Africa and the Horn

While world attention is consumed with the war in Ukraine, armed conflicts are raging in Africa. In Ethiopia, a serious humanitarian crisis is the result of over a year of war between Tigrayan rebels and the federal government. In Somalia, Salafi-jihadist group al-Shabaab continues to launch attacks as a political impasse grips the country. In Libya, rival governments in Tobruk and Tripoli risk unraveling a 2020 ceasefire agreement. All three hot spots have the potential to flare up in 2022, causing instability and posing a significant risk to human and business interests in those countries.

Analysis: Ukraine War Update: Ukraine War Update: War Crimes, Finger Pointing, Frozen Reserves

The Bucha atrocities have created new momentum in the Western alliance, with allies announcing new political and economic sanctions as well as investigations to document and hold Russia accountable for war crimes.

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