IMF chief Georgieva says Ukraine war to lower global growth forecast – Reuters.com
- Date: 11-Mar-2022
- Source: Reuters
- Sector:Economy
- Country:Middle East
IMF chief Georgieva says Ukraine war to lower global growth forecast – Reuters.com
WASHINGTON, March 10 (Reuters) - The war in Ukraine and massive sanctions against Russia have triggered a contraction in global trade, sending food and energy prices sharply higher, which will force the International Monetary Fund to lower its global growth forecast next month, IMF Managing Director Kristalina Georgieva said on Thursday.
The global lender had already lowered its economic forecasts for the United States, China and the global economy in January, citing risks linked to the COVID-19 pandemic, rising inflation, supply disruptions and U.S. monetary tightening.
At the time, it projected global economic growth would reach 4.4% this year, a downgrade of 0.5 percentage points.
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