IMF says Russia war "major blow" to world, but impact on Asia limited

Economy

Russia's war with Ukraine is "a major blow" to the global economy, with the impact to be felt through slower growth and higher inflation in food and energy prices, the International Monetary Fund said Tuesday. In Asia and the Pacific, specifically, spillovers from Russia's invasion of Ukraine are "likely limited given the lack of close economic ties, but slower growth in Europe and the global economy will take a heavy toll on major exporters," the IMF said. The Washington-based institution said impacts stemming from the conflict will flow through three main channels -- higher prices for commod...

Kyodo News

Kyodo News