The rich countries now facing a much poorer 2022

Argentina's post-COVID economic recovery slowed in the early part of this year, but the outlook for the South American country has actually improved since December, with growth now expected to hit 3.6% in 2022, largely thanks to the $44 billion (£35.7bn) debt-restructuring deal the nation signed with the IMF in March. Plus Argentina is less exposed than many countries to the conflict in Eastern Europe, having few trade ties with Ukraine and Russia.