The International Monetary Fund (IMF) has warned that Russia’s invasion of Ukraine and subsequent sanctions on Russia will have a “serious impact” on the world economy.
“The situation remains fairly fluid and the outlook is highly uncertain, but the economic impact is already very serious,” the IMF said in a statement yesterday. Food and energy prices have skyrocketed in the last few days, spurring inflationary pressures on national and regional policymakers.
“The impact of price shocks will be global, especially for poor households with a high share of food and fuel in spending,” the IMF said. “If the conflict escalate, the economic impact will be even greater. Sanctions on Russia will have a major impact on the world economy and financial markets, and will have a major impact on other countries,” he said.
The IMF announced that Ukraine has requested an emergency loan of 1.4 billion dollars (regarding 160 billion yen). IMF staff are expected to submit this request to the Board soon for approval.
news-rsf-original-reference paywall">Original title:
news-rsf-original-reference paywall">IMF Sees ‘Severe Impact’ on Global Economy From War, Sanctions(excerpt)
