Sanctions on Russia will add to global economic crisis: IMF chief
ANKARA (AA) – International sanctions imposed on Russia are expected to affect global economy, which is still trying to recover from the shock of the pandemic, the head of International Monetary Fund (IMF) said on Friday.
Kristalina Georgieva said the effects of the sanctions would be seen in energy and grain prices, which would increase concerns of high inflation.
The conflict between Russia and Ukraine may cause capital outflows from emerging markets, the IMF chief said.
“We need exactly the opposite, more financing going there,” she told in her remarks at Georgetown University in the US.
She noted that the Russia-Ukraine conflict may also have an economic impact on neighboring countries.
Russia is one of the top oil producing and exporting countries in the world.
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