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Sanctions on Russia will add to economic impact of Ukraine war, inflation-IMF chief -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Kristalina Georgieva, International Monetary Fund’s Managing Director, speaks at a news conference that took place after the Summit on Financing African Economies. It was held in Paris (France) May 18th 2021. Ludovic Marin/Pool via REUTERS

WASHINGTON (Reuters), International Monetary Fund Managing Direct Kristalina Georgiaieva stated on Friday that the financial sanctions against Russia are likely to increase economic damage from the conflict in Ukraine. This is primarily due to higher oil and grain prices. Inflation also increases.

Georgieva made the remarks at the Georgetown Law School’s Black History Month event. Georgieva also mentioned that financial market instability may lead to capital “outflows out of emerging markets,” when what we really need is more financing.

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