The deterioration of the Ukrainian economy due to the Russian invasion is spreading around the world, said the head of the Fund.
The consequences of Russia’s war with Ukraine affected the economies of 143 countries, which make up 86% of world GDP. This was stated by IMF Managing Director Kristalina Georgieva, writes Bloomberg.
According to him, due to the war, the fund was forced to worsen its forecasts for 2022.
Among the states whose economic prospects have declined are food and energy importers in Europe, Asia, Africa and the Middle East.
As Georgieva noted, the Ukrainian-Russian conflict threatens to disrupt the recovery of the global economy from the consequences of the pandemic.
“In other words, we are in a crisis against the backdrop of a crisis. The shock waves from Russia’s invasion of Ukraine, the destruction of the Ukrainian economy, are spreading around the world,” Georgieva said.
According to him, the fate of the global economy is unclear due to the risk of escalation of the conflict and new sanctions.
The IMF chief added that the current political climate “is the most difficult of our century.”
Georgieva said the Fund, together with international partners, is preparing for large -scale efforts to bring Ukraine back.
According to IMF forecasts, due to the war, Ukraine’s GDP is expected to decrease by a third. After the war, great efforts would be needed to bring Ukraine back.
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Source: korrespondent
