IMF Warns Ongoing War in Europe Will Have a ‘Severe Impact on the Global Economy’
In a report published on Saturday, the International Monetary Fund (IMF) has warned that an ongoing war in Europe and associated sanctions will have a “severe impact on the global economy.” The IMF’s report says there is “extraordinary uncertainty” in the air, and the international financial institution believes “economic consequences are already very serious.” IMF’s Economic Outlook Amid Ongoing War in Europe Predicts Inflationary Pressures, Supply Chain Disruptions, and Price Shocks With a crisis happening in the world, many analysts and economists are concerned about the global economy and the aftermath of the warfare taking place in Ukraine. Additionally, Russian sanctions are being discussed or implemented daily by a large quantity of countries across the globe. On Saturday, the IMF issued a staff statement concerning the economic impact of the war in Ukraine after the executive board met on March 4. The report notes that the meeting was chaired by the IMF’s managing directo