War in Ukraine is global, not regional – IMF Managing Director

16:03, 20.01.2023 1 min read

The war in Ukraine should not be considered as a regional conflict since it has a global impact, Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva has said.

The IMF head participated in a session on global economy prospects that traditionally closes the business program of the forum in Davos. When the moderator was ending the session, Georgieva asked for the floor to comment on the speech by Economy and Finance Minister of France Bruno Le Maire, who said inter alia that the conflict in Ukraine is global as long as common values are at stake.

The head of the IMF agreed with the assessment of the war as a global conflict. It destroyed the "peace dividends we had been enjoying for three decades," she said, adding that against this background the governments have to change their investment policy by switching funds to the military sector. In addition, such global problems as poverty and hunger have been exacerbated. Georgieva described the ongoing conflict as "a war against global economic prosperity."