The risks to the world economy are leading to an increasingly gloomy view of the months ahead for corporate leaders, government officials and other VIPs gathered at the World Economic Forum meeting in Switzerland.

According to minutes from their May 3-4 meeting, most agreed that half-point hikes also ‘would likely be appropriate’ when they next meet in June and July.

A new study projects that nearly 1.9 billion people could face food insecurity by November.

The pact aims to help the economies work more closely on supply chains, digital trade, clean energy, worker protections and anti-corruption efforts.