The Strategist

IMF assesses threat of a global crisis due to events in Ukraine

03/14/2022 - 10:43

The International Monetary Fund (IMF) has not yet seen any preconditions for a global financial crisis due to the events in Ukraine and sanctions imposed on Russia, said IMF Managing Director Kristalina Georgieva.

Cory Hancock
Cory Hancock
"Right now we don't. When we look at the contingency of banks with Russia, it's about $120 billion. Not to call it a negligible amount, but definitely not systemically significant," she told CBS television.

Georgieva added that the IMF will revise downward growth forecasts for 2022.

It will "still be a positive value," she said, and in countries that, like the United States, quickly overcame the effects of the coronavirus pandemic, growth will be significant.