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IMF chief: Ukraine crisis and inflation threaten global economy

marcfaubeau

International Monetary Fund (IMF) managing director Kristalina Georgieva has warned that high inflation is “a clear and present danger” to the global economy, while Russia's attack on Ukraine is weakening the economic prospects for many countries. Ms Georgieva said high inflation, which is forcing central banks to raise interest rates and probably slow economic growth in the process, amounts to "a massive setback for the global recovery.” She also noted that the consequences of Russia's invasion are contributing to economic downgrades for 143 countries. Ms Georgieva called on the world to support Ukraine and noted that the IMF has delivered $1.4bn in emergency financing to help the country meet its immediate spending needs.

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