CNBC: IMF cuts global growth forecasts on Russia-Ukraine war, says risks to economy have risen sharply
* The Washington-based institution is now projecting a 3.6% GDP rate for the global economy this year and for 2023.
* This represents a 0.8 and 0.2 percentage point drop, respectively, from its forecasts published in January.
* The IMF said sanctions will have “a severe impact on the Russian economy,” which estimated the country’s GDP will fall by 8.5% this year, and by 2.3% in 2023.
The International Monetary Fund on Tuesday cut its global growth projections for 2022 and 2023, saying the economic hit from Russia’s unprovoked invasion of Ukraine will “propagate far and wide.”
The Washington-based institution is now projecting a 3.6% GDP rate for the global economy this year and for 2023. This represents a 0.8 and 0.2 percentage point drop, respectively, from its forecasts published in January.
“Global economic prospects have been severely set back, largely because of Russia’s invasion of Ukraine,” Pierre-Olivier Gourinchas, economic counsellor at the IMF, said in a blog post Tuesday, marking the release of the IMF’s latest World Economic Outlook report.
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Citing The Russia - Ukraine War, IMF Cuts Global Growth Forecast To 3.6%
Citing Russia’s war, IMF cuts global growth forecast to 3.6% -- AP
IMF cuts global growth forecast to 3.6% as Ukraine war hits neighbours hard -- Financial Times
IMF says Russia’s war in Ukraine will ‘severely set back’ global economy -- CNN
IMF cuts global growth forecasts as Ukraine war, inflation cast shadow on world economy -- FOX News
Global economy to 'slow significantly' following Russian invasion of Ukraine: IMF -- Yahoo News
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