News > IMF cuts global growth forecast over Ukraine war

IMF cuts global growth forecast over Ukraine war

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 warned that inflation was now a "clear and present danger" for many countries.

Further sanctions on Russian energy and a widening of the war, a sharper-than-forecast deceleration in China and a renewed flare-up of the pandemic could further slow growth and boost inflation while rising prices could trigger social unrest.