The International Monetary Fund (IMF) has warned that Russia's war in Ukraine could destabilize the world's economy and politics.
According to the French news agency AFP, the IMF said in a statement on Tuesday that the effects of the Russian attack on the world economy in the form of slowdown in growth, rising inflation and prolonging the global economy. May adapt to a new template for a while.
A post on the IMF's website further states that in addition to the influx of refugees and other humanitarian issues, the war will increase inflation, increase food and energy prices and increase income.
The effects of the situation could be business disruptions, supply chain closures and remittances to Ukraine's neighboring countries.
"Trade and business will be severely affected, investor uncertainty will increase and asset prices will fall," the statement said. Financial conditions will deteriorate and emerging markets could lead to capital outflows.
"The collision is a major blow to the global economy, affecting the manufacturing sector and pushing up prices."
IMF officials have already predicted that the global economy will lose its forecast of 4.4% in 2022.
Tuesday's post also warns of a slowdown in regional economic growth.
The IMF will release its new forecast on April 19 next month.
Countries with trade, tourism and other economic sectors will feel increasing pressure, the agency said, adding that regions such as Africa, Latin America, the Caucasus and even Central Asia are at greater risk.
There is also a fear of food shortages in Africa and the Middle East, where countries like Egypt import 80 percent of their wheat from Russia and Ukraine.
The IMF predicted a sharp recession in Ukraine and Russia, saying Europe could face gas shortages while China's supply chain would be disrupted.
Similarly, in Eastern Europe, where 3 million people have been displaced from Ukraine, this will result in increased financial costs.
It is believed that Russia invaded neighboring Ukraine on February 24 and the fighting is still going on. Russia's President Vladimir Putin says the war will continue until Ukraine surrenders, while Ukraine has called on the world to play its part in stopping the Russian invasion.
