The IMF has downgraded the global economy’s outlook due to Russia’s war against Ukraine.

 IMF Managing Director Kristalina Georgieva said that global economic growth in 2022-2023 will decline even more than previously forecast, covering 143 countries worldwide. “In January, we lowered our global growth forecast to 4.4% in 2022. Since then, the prospects have deteriorated significantly, mainly due to the war in Ukraine.” She stressed that the situation is exacerbated by other factors, such as inflation, financial constraints, the reintroduction of a quarantine in China, and, as a result, new disruptions in global supply chains. “As a result, we forecast a further decline in global growth in 2022 and 2023,” said Georgieva.