IMF: War to Strike World Economy

The world lender through a statement said the war in Ukraine is already increasing energy and wheat prices amid a growing refugee crisis and unprecedented sanctions against Russia.

The “as the situation remains very current and the outlook is subject to uncertainty, economic consequences are already very serious. The ongoing struggle and related sanctions will also have a serious impact on the world economy”, the IMF said, warning that the crisis was impacting inflation and economic activity when pressures were already high.