Russia’s war in Ukraine will affect 143 economies representing 86% of global economic output — IMF Managing Director Kristalina Georgieva

The International Monetary Fund will cut its estimates of global growth for 2022 and 2023 as Russia’s war in Ukraine pushes up food and energy prices, putting pressure on an already fragile economy, managing director Kristalina Georgieva said on April 14, 2022, warning the world was in “a very dangerous time.”

The global lender will downgrade its growth outlooks for 143 economies representing 86% of global economic output, although most countries will maintain positive growth, Georgieva said. For those hardest hit, there would be “catastrophic economic losses in Ukraine [and] a severe contraction in Russia”, she added.

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