IMF to cut global growth forecast in April amid Russian invasion

Politics Economy

The International Monetary Fund is set to lower its global growth projection next month due to the impact of Russia's invasion of Ukraine, which has triggered massive economic sanctions on Moscow and is sending energy and food prices higher, IMF Managing Director Kristalina Georgieva said Thursday. "We have tragic impact of the war on Ukraine. We have contraction on a significant basis in Russia," the IMF chief said, while noting that even a default by Russia on its debt "is no more an improbable event." In January, the IMF slashed the global growth forecast for 2022 by 0.5 percentage point fr...

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