IMF Cuts Global Growth Forecast Due to ‘Seismic Waves’ From Russia’s War in Ukraine

IMF Cuts Global Growth Forecast Due to ‘Seismic Waves’ From Russia’s War in Ukraine
International Monetary Fund logo outside the headquarters building during the IMF/World Bank spring meeting in Wash., on April 20, 2018. Yuri Gripas/File Photo/Reuters
Reuters
Updated:

WASHINGTON—The International Monetary Fund on Tuesday slashed its forecast for global economic growth by nearly a full percentage point, citing Russia’s war in Ukraine, and warning that inflation was now a “clear and present danger” for many countries.

The war is expected to further increase inflation, the IMF said in its latest World Economic Outlook, warning that a further tightening of Western sanctions on Russia to target energy exports would cause another major drop in global output.