The International Monetary Fund (IMF) will cut global economic growth prospects for this year and for 2023 in the next forecast, Kristalina Georgieva announced.

"For most countries, growth will still remain in positive territory," she said in a conversation with Tino Cuellar, president of the Carnegie Endowment for International Peasse, adding that the impact of the war will contribute to downward revision for 143 economies this year, representing 86% of world GDP.

According to Kristalina Georgieva, quoted by Lusa news agency "the global economic outlook is extraordinarily uncertain far beyond the normal range.

"We are facing a crisis on top of a crisis," he said.

The IMF official stressed the impact of the pandemic and Russia's invasion of Ukraine, saying that in addition to being devastating for the country, it is "sending shockwaves" globally.

"The economic consequences of the war spread rapidly" to neighbors, hitting the world's most vulnerable people the hardest.

In January, the IMF cut its forecast for world economic growth this year by 0.5 percentage points (pp.) to 4.4%.

According to the institution said at the time, the revision reflects the impact of mobility restrictions, border closures, and the effect on health of the spread of the Omicron variant, with a differentiated weight from country to country, but which should condition growth in the first quarter of this year.

Kristalina Georgieva also admitted on Thursday that inflation is likely to remain "high for longer than previously estimated."

Source: Lusa