Ngozi Okonjo-Iweala, director general of the World Trade Organization, is a former finance minister and foreign minister of Nigeria and a former managing director of the World Bank.
The economic and humanitarian repercussions of Russia’s invasion of Ukraine will be felt far beyond Europe and especially in vulnerable countries. The world must act swiftly to prevent the poorest and most vulnerable from becoming collateral damage.
Despite its recent struggles, the WTO still has an irreplaceable role in transforming countries’ economic prospects and people’s lives. Failure to revive an effective, rules-based international trade system will undermine efforts to tackle a global recession.