The International Monetary Fund (IMF) made a clear request to Russia to end the conflict in Ukraine on Friday (October 14).
‘Stop the war… Wouldn’t you be thinking that this is a more straightforward way to get the world economy in better shape?’ At the Friday news briefing, IMF chief Kristalina Georgieva posed the question.
The IMF called attention to the fact that the ‘single most important element’ impeding global economic development has been Russia’s war in Ukraine.
As finance ministers and central bankers gathered in Washington for the IMF and World Bank annual meetings, which were centred on the war, skyrocketing inflation, and the climate issue, Nadia Calvino, chair of a key IMF committee, made the remark.
According to Calvino, there is a ‘very strong push’ for Russia to end the conflict. She serves as both Spain’s economy minister and the chair of the International Monetary and Financial Committee.
‘The war is the single most important element slowing down growth and generating inflation, volatility, energy and food insecurity and uncertainty,’ she told a press conference, describing peace as a key economic policy tool.
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