Russia's war in Ukraine will have negative effect on entire global economy - IMF

11.03.2022 00:15

Ukrinform

Russia's war in Ukraine and unprecedented sanctions against Russia have already provoked a reduction in world trade and a rise in prices for energy and products, which will inevitably have a negative impact on the prospects of the global economy.

IMF Managing Director Kristalina Georgieva said this in an online briefing for journalists on Thursday, according to an Ukrinform correspondent.

"We have been through a crisis like no other with the pandemic. We are now in even more shocking territory. The unthinkable has happened: we have a war in Europe," she said.

She noted that the tragic impact of hostilities in Ukraine and significant restrictions on the Russian economy have already negatively affected the dynamics of international trade, led to rising energy prices, create conditions for food shortages. According to her, this will be reflected in the next release of the IMF's "World Economic Outlook," which is due next month.

The IMF on March 9 provided Ukraine with $1.4 billion in emergency financing to alleviate the shock of the Russian war for Ukraine's economy.