The IMF, following the World Bank, lowered its forecast for global economic growth
The International Monetary Fund (IMF) lowered its global economic growth forecast to 3.6% from 4.4% due to the situation in Ukraine. The organization also warned that a possible ban on imports of Russian oil and gas would further hit European and emerging economies, lead to faster inflation and higher interest rates, including in the US. According to the IMF forecast, Ukraine's GDP will collapse by 35% this year, Russia's GDP will fall by 8.5%, and the country's output will decrease by 15%.