War in Ukraine could cause recession in weaker economies, IMF boss warns

War in Ukraine could cause recession in weaker economies, IMF boss warns

The head of the International Monetary Fund has warned that the war in Ukraine has darkened the outlook for the global economy and could result in recession for the more vulnerable countries.

Kristalina Georgieva predicted that 2022 would be a “tough year” and declined to rule out a global recession if conditions worsened markedly.

Asked in a session on the world economy at the annual meeting of the World Economic Forum in Davos, Switzerland, whether the IMF was forecasting a global recession, Georgieva replied: “Not at this point. It doesn’t mean one is out of the question.”