The International Monetary Fund has warned of a painful economic blow to the European continent that might lead to a 6% contraction in the economies of the Czech Republic, Hungary, Slovakia and Italy next year in the event of a ban on Russian gas.
It is noteworthy that the fund manager, Kristalina Georgieva, had previously warned that disruptions in natural gas supplies to Europe might lead to a recession and trigger a global energy crisis.
Earlier, she said Director of the Strategy and Policy Department at the International Monetary FundThe fund will significantly reduce its forecast for global economic growth in the revision scheduled for the end of this month.
She pointed to rising food and energy prices, slowing capital flows to emerging markets, and the outbreak of the Corona virus in China, which in turn is affecting growth.
It is noteworthy that the International Monetary Fund had lowered its forecast for global economic growth last April to 3.6% from 4.4% before the Russian-Ukrainian war.
