(Bloomberg) -- Members of the global elite are back in Davos after a two-year hiatus due to the pandemic.

The World Economic Forum’s annual meeting gets underway on Monday in the Swiss ski resort, albeit with fewer big names from Wall Street and politics. But there’s still much to discuss given the war in Ukraine, including rampant inflation, risks of food shortages and climate change.

The first day’s main event is a virtual speech from Ukraine President Volodymyr Zelenskiy. International Monetary Fund Managing Director Kristalina Georgieva and Bank of France Governor Francois Villeroy de Galhau appear on panels.

Tune into Bloomberg Television for interviews with Credit Suisse Chief Executive Officer Thomas Gottstein, IMF’s Georgieva, Standard Chartered CEO Bill Winters, US Special Envoy John Kerry, Carlyle Group Co-Founder David Rubenstein and Qualcomm CEO Cristiano Amon among many others.

Key Developments

  • Davos Forum Is Back With Less Billionaire Starpower and No Snow
  • IMF Warns Against Global Economic Fragmentation From Ukraine War
  • Putin’s War Means Russia’s Rich Aren’t Welcome at Davos Anymore
  • Scholz Among World Leaders at First In-Person Davos Since Covid

All times CET:

Germany Warns of Food ‘Catastrophe’ (8 a.m.)

German Economy Minister Robert Habeck said the WEF can help policy makers coordinate strategy on how to address a looming global food “catastrophe” and reiterated an accusation that Russian President Vladimir Putin is weaponizing hunger.

“We shouldn’t kid ourselves that there are limits to Putin’s brutality,” Habeck said in an interview with Germany’s Deutschlandfunk radio. “The task here at Davos is for us to recognize that hunger is being used as a weapon,” he added. “That’s why it’s good that the discussions are taking place in person here again and so many people are coming.”

WHO Envoy Warns of Cost-of-Living Risks (7:55 a.m.)

A special envoy to the World Health Organization warned that 94 countries are facing severe hunger or famine and that surging consumer prices risks causing disruption.

“This cost-of-living crisis could lead to the worst set of economic and social challenges we’ve seen in four or five decades,” David Nabarro, special envoy for Covid-19 at the WHO, said at the launch of the Edelman Trust Barometer in Davos. Energy shortages are driving up production costs and leading to shortages of fertilizer, potentially affecting 1.7 billion people, he added. 

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