“To sum up, we have a tragic impact of the war on Ukraine. We have a significant contraction in Russia and we see the likely impact on our outlook for the global economy,” the IMF managing director said.
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The war in Ukraine is slowing global growth, warned Kristalina Georgieva, Managing Director of the IMF, on Thursday March 10, citing pressure on food and energy prices as well as the deterioration in household and business confidence.
“To sum up, we have a tragic impact of the war on Ukraine. We have a significant contraction in Russia and we see the likely impact on our outlook for the global economy”she said during a round table with some journalists.
She has already warned that next month, at the spring meetings of the International Monetary Fund and the World Bank, a drop in “global growth projections”without, however, giving any figures.
In January, the IMF forecast had already been reduced to 4.4% for 2022, against 4.9% in October and nearly 5.9% last year.
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