Geneva: The International Monetary Fund says Russia’s invasion will affect the entire global economy by slowing growth and jacking up inflation, and could fundamentally reshape the global economic order in the longer term.
Beyond the human suffering and historic refugee flows, the war is boosting prices for food and energy, fuelling inflation and eroding spending power, while disrupting trade, supply chains and remittances in countries neighbouring Ukraine, the IMF said.
It is also eroding business confidence and triggering uncertainty among investors that will depress asset prices, tighten financial conditions and could trigger capital outflows from emerging markets, it said.
