Russia-Ukraine war worsens global financial viewpoint| MENAFN.COM

Thursday, 07 July 2022 04:08 GMT

Russia-Ukraine war worsens global financial viewpoint


(MENAFN) The chief of the International Monetary Fund (IMF) stated that the attack on Ukraine has degraded the global financial viewpoint and a decline may appear for extra vulnerable nations.

Kristalina Georgieva estimated that this year would be a hard year and declined to exclude an international slump if situations drastically weakened.

Stating on the sidelines of the yearly conference of the World Economic Forum in Davos, Switzerland, Georgieva stated that a worldwide slump was not being estimate by the IMF “at this point,” but also stated that “It doesn’t mean one is out of the question.”

The IMF executive director stated that the association had lately lowered the expansion forecasts for 143 of its member states, which signify 80 percent of global production.

“The horizon has darkened,” she stated, highlighting that the effect of the conflict in Ukraine was being strengthened by a narrowing of economic circumstances “2022 is going to be a tough year.” She added.

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