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IMF Warns of Economic Risk in the Region and the World

IMF Warns of Economic Risk in the Region and the World

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, stated this Thursday (24 February), that Russia’s invasion of Ukraine poses “significant economic risk for the region & the world” and could affect the economic recovery.

“I am deeply concerned about what is happening in Ukraine and, first & foremost, impact on innocent people. This adds significant economic risk for the region & the world. We are assessing the implications & stand ready to support our members as needed,” said Georgieva in a message on social network Twitter.

Russia launched a military offensive on Ukrainian territory in the early hours of this Thursday (24 February) with ground forces and bombing targets in several cities, an attack that Ukrainian authorities say claimed dozens of lives in the first hours. Following the advance of Russian troops, world markets went into turmoil, with stock markets

falling and raw materials rising. Several emergency meetings are planned: the G7 will meet by videoconference; the 27 countries of the European Union will hold a summit in Brussels and NATO has called a digital summit for this Friday (25 February).

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