Major international financial organizations such as European Bank for Reconstruction and Development (EBRD), the International Monetary Fund (IMF) and the The World Bank warned today of the “huge” concequenses that will have the Russian invasion in Ukraine for global economy.
In joint communication They say they feel “horror and deep concern” and that they met yesterday, Thursday, to discuss its impact and a collective response to the conflict.
The signatory bodies, which also include the European Investment Bank (EIB), underline that in addition to the humanitarian catastrophe in UkraineThe war it also disrupts livelihoods in the area and beyond. “
It reduces the supply of energy, food, raises prices, “will hurt the post-pandemic recovery around the world.”
“The whole of it world economy “It will feel the effects through a slower growth, trade disruptions, and the poorest and most vulnerable will be hit hardest.”
Especially its neighbors Of Ukraine countries will suffer from disruptions in trade, in supply chains, and will face “waves of refugees”.
The financial markets I will hurt also from an uncertainty that will be transmitted to the prices of assets, to a tightening of financial conditions and may even “cause a flow of capital to emerging markets”.
The signatory organizations recall actions already taken: a € 2 billion EBRD aid package covering mainly energy and nuclear safety, a € 668 million EIB forecast, $ 1.4 billion in IMF emergency assistance, and € 925 million for the World Bank.
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