The International Monetary Fund’s steering committee chair said in a news conference that member countries nearly unanimously called on Russia to end its war in Ukraine.
According to Chair Nadia Calvio, the conflict is the most significant factor driving inflation and slowing global economic recovery.
“More than two years of pandemic, followed by Russia’s war against Ukraine, are weighing heavily on economic activity, with significant impact on livelihoods,” she said at the 46th Meeting of the International Monetary Fund.
In a press conference, Alfred Kammer, Director of the IMF’s European Department, echoed Calvio’s remarks.
He stated that the invasion of Ukraine by Russia “caused higher energy prices, a lack of food exports, and led to price increases globally, particularly in Europe, and is a root cause of the slowdown and recession we are seeing in some countries.”
Following the United Nations General Assembly resolution adopted earlier this week by 143 member states, which recognized Ukraine’s territorial integrity in the face of Russian aggression, Calvio reiterated the need for international cooperation and multilateralism.
