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4/21/2022, 7:24 PM (Source: TeleTrader)
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Georgieva: GDP forecast depends on Ukraine, inflation

Managing Director of the International Monetary Fund, Kristalina Georgieva, said on Thursday that the global economic growth widely depends on the length of the Russia-Ukraine war as well as the state of the inflation. Georgieva confirmed the IMF has already raised $40 billion for its resilience trust fund which aims to help developing countries recover from the crisis and prepare for future challenges.

Debating about the global economy, European Central Bank President Christine Lagarde warned that the risks of Eurozone economic growth skewed to the downside, while leaving the possibility for the European Union to impose sanctions on the imports of Russian oil and gas. Lagarde also argued that the euro area's inflation is caused by a supply shock and will remain more than double the targeted 2% at the end of 2022, adding the ECB has been addressing it in a gradual way.

Baha Breaking News (BBN) / ND