IMF says Ukraine invasion likely to cut global growth

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The International Monetary Fund (IMF) is likely to trim global growth projections in April due to Russia’s invasion of Ukraine, the fund said on March 15.

Both Russia and Ukraine are major producers of commodities and agricultural products, exports of which are already being disrupted due to the conflict, as well as the sanctions Western governments have imposed on Russia. The two economies account for around 30% of global wheat exports.

This is contributing to steep increases in oil, gas and

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