"The conflict has driven up the price of oil and natural gas; damaged oil refineries, tanker terminals and other energy infrastructure; disrupted shipments of fertiliser that the world's farmers depend on; and damaged the confidence of businesses and consumers."
"Georgieva added that member countries need to get your house in order to build resilience as defence spending weighs on the global economy."
"She said the Fund has a big cushion of resources but needs the quota increase finalised to provide financial reassurance because we don't know what the future may bring."
The conflict has significantly impacted oil and natural gas prices, damaged energy infrastructure, and disrupted global supply chains. The IMF warns of an inflationary crisis and plans to downgrade its global growth forecast. Kristalina Georgieva stated that the war has altered the economic outlook, which was previously optimistic. Member countries are urged to strengthen their economic resilience. The IMF is also seeking a quota increase to enhance its lending capacity, ensuring financial stability amid uncertain future conditions.
Read at www.aljazeera.com
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