Russia sanctions to add to higher energy, grain prices amid Ukraine war-IMF chief

© Reuters. FILE PHOTO – International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks during a joint news conference at the end of the Summit on the Financing of African Economies in Paris, France May 18, 2021. Ludovic Marin/Pool via REUTERS

WASHINGTON (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva said on Friday that international financial sanctions against Russia will add to the economic impacts of the war in Ukraine, which are primarily being transmitted through higher energy and grain prices, adding to inflation.

Georgieva, speaking at a Georgetown Law School event on Black History Month, also said that greater financial market uncertainty caused by the conflict may cause capital “outflows from emerging markets, when we need exactly the opposite — more financing going there.”

Sanctions on Russia will add to economic impact of Ukraine war, inflation-IMF chief

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