The World Bank warns: "The worst scenario" for global growth is approaching.

The World Bank warns: "The worst scenario" for global growth is approaching. Indermit Gill, the World Bank's chief economist, warned that the escalation of hostilities between the United States and Iran could ignite a new wave of inflation, push interest rates to higher levels, and reduce global economic growth to just 1.3%, compared to 2.9% last year.