US inflation rises to new 40-year high of 7.9%; Abramovich sanctioned by UK – business live
US inflation rises to new 40-year high of 7.9%; Abramovich sanctioned by UK – business live
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
The International Monetary Fund’s executive board has approved $1.4bn in emergency financing for Ukraine, and predicted a “deep recession” in Ukraine this year. In a statement, it expressed its “strong support for the Ukrainian people”.
IMF managing director Kristalina Georgieva said once the war is over, the country is likely to need additional “large support”.
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