Microsoft Corp MSFT co-founder Bill Gates says the combination of the Russia-Ukraine war, the remaining impact of the COVID pandemic, and increasing interest rates could trigger a worldwide economic slowdown.
What Happened: Speaking on CNN’s “Fareed Zakaria GPS” on Sunday, Gates said the combined impact of the war, pandemic and central bank monetary tightening policies are coming at a time when “government debt levels were already very high and there were already some supply chain problems.” He said the rising inflation and ensuing interest rate hikes will "eventually result in an economic slowdown."
Gates went as far as to say that “the bears on this one have a pretty strong argument that concerns me a lot.” He said he was particularly worried about the poor countries of the world, because “when rich countries have these big budget problems, the health needs of places like Africa get de-prioritized.”
He also pointed out that the pandemic caused “$14 trillion of economic damage” to the world, and “still counting.”
Gates Comments On Divorce: Zakaria also asked Gates about his recent divorce, which the Microsoft co-founder described as “a failure.” He and his ex-wife Melinda Gates announced their decision to split in May 2021, after almost three decades of marriage.
Gates called it “a humbling experience,” and said with a smile that he doesn’t have the answers in the realm of relationships, like he does on the issues of “climate, technology or vaccine technology.”
Photo: Courtesy of Greg Rubenstein on Flickr
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