The International Monetary Fund (IMF) lowered its growth forecasts 143 countries Due to the effects of Russia’s invasion of Ukraine, which, according to the fund manager, represents an impact on 86% of the world’s gross domestic product (GDP). Kristalina Georgieva.
Speaking before the start of the organization’s annual spring meeting with the World Bank next week, Georgieva said that the future of the economy is “extraordinarily uncertain” by war, sanctions and covid-19.
Despite the decline in estimates, the company’s general manager international financial institution He assured that most countries would remain in the positive zone.
The IMF will release updated and detailed economic projections by region and country next Tuesday, within the framework of its parliament. 2022, 2023 and 2024.
“We are experiencing a crisis one after the other” Georgieva referred to the outbreak of war before the world had yet recovered from the covid-19 pandemic.
In addition to these two factors, the economist also states “danger“very high inflation—very high in developed countries, but even higher in some developing countries—and rising fragmentation divided the world’s economies into two geopolitical blocs: democracies and authoritarian regimes.
The fund’s latest forecasts predict inflation will continue to rise longer than previously anticipated, and increased risk that the market’s inflation expectations have become a self-fulfilling prophecy and are more difficult to control.
The IMF also pointed to a number of countries where rising food prices will have a particularly large impact. Peru, Colombia, Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica.