Escalation of conflict in Ukraine would cause ‘devastating’ economic damage: IMF

Posted on March 6, 2022 by Hooriya Qureshi

Washington, March 5 (AFP/APP): The IMF warned on Saturday that the already serious global economic impacts of the war in Ukraine would be “all the more devastating” should the conflict escalate.

“While the situation remains highly fluid and the outlook is subject to extraordinary uncertainty, the economic consequences are already very serious,” the IMF said in a statement after a meeting of the executive board on Friday.

“Should the conflict escalate, the economic damage would be all the more devastating.”