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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

IMF: War in Ukraine Will Have 'Severe Impact' on Global Economy

FILE PHOTO: International Monetary Fund (IMF) logo is seen outside its headquarters in Washington, September 4, 2018. REUTERS/Yuri Gripas/File Photo

The International Monetary Fund on Saturday said it expected to bring Ukraine's request for $1.4 billion in emergency financing to its board for approval as early as next week and was in talks about funding options with authorities in neighboring Moldova.

In a statement, the global lender said the war in Ukraine was already driving energy and grain prices higher, and had sent a wave of more than 1 million refugees to neighboring countries, while triggering unprecedented sanctions on Russia.

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