News > IMF cuts global growth forecast over Ukraine war

IMF cuts global growth forecast over Ukraine war

BusinessWorld | 20/04/2022 08:59 AM | Click to read full article

The International Monetary Fund on Tuesday slashed its forecast for global economic growth by nearly a full percentage point, citing Russia's war in Ukraine, and warned that inflation was now a "clear and present danger" for many countries.

Further sanctions on Russian energy and a widening of the war, a sharper-than-forecast deceleration in China and a renewed flare-up of the pandemic could further slow growth and boost inflation while rising prices could trigger social unrest.