Home Economy IMF leader sees growing worries for world economy – The Examiner

IMF leader sees growing worries for world economy – The Examiner

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The Associated Press

WASHINGTON (AP) — The head of the International Monetary Fund warned Thursday that Russia’s war against Ukraine was weakening the economic prospects for most of the world’s countries and called high inflation “a clear and present danger’’ to the global economy.

IMF Managing Director Kristalina Georgieva said the consequences of Russia’s invasion were contributing to economic downgrades for 143 countries, although most of them should continue to grow. The war has disrupted global trade in energy and grain and is threatening to cause food shortages in Africa and Middle East.

An unexpectedly strong recovery from 2020’s pandemic recession has caught businesses by surprise, leaving factories, ports and freight yards unable to keep up with robust customer demand and forcing prices higher. Chronically high inflation, which is forcing the world’s central banks to raise interest rates and likely…

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