![\"IMF](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/03\/imf-warns-ongoing-war-in-europe-will-have-a-severe-impact-on-the-global-economy.jpg\")
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In a report published on Saturday, the International Monetary Fund (IMF) has warned that an ongoing war in Europe and associated sanctions will have a \u201csevere impact on the global economy.\u201d The IMF\u2019s report says there is \u201cextraordinary uncertainty\u201d in the air, and the international financial institution believes \u201ceconomic consequences are already very serious.\u201d<\/strong><\/p>\n With a crisis happening in the world, many analysts and economists are concerned about the global economy and the aftermath of the warfare taking place in Ukraine. Additionally, Russian sanctions are being discussed or implemented daily by a large quantity of countries across the globe.<\/p>\n On Saturday, the IMF<\/a> issued a staff statement<\/a> concerning the economic impact of the war in Ukraine after the executive board met on March 4. The report notes that the meeting was chaired by the IMF\u2019s managing director Kristalina Georgieva. The IMF\u2019s outlook is not great and the international financial institution has noticed the energy and commodities boom<\/a> last week.<\/p>\n All of this has added to \u201cinflationary pressures from supply chain disruptions\u201d and it could slow the Covid\u201119 pandemic rebound, the IMF\u2019s report details. \u201cPrice shocks will have an impact worldwide, especially on poor households for whom food and fuel are a higher proportion of expenses,\u201d the IMF\u2019s statement adds.<\/p>\n The IMF\u2019s report explains war-related issues could further cause economic fallout across a myriad of countries. \u201cShould the conflict escalate, the economic damage would be all the more devastating \u2014 The sanctions on Russia will also have a substantial impact on the global economy and financial markets, with significant spillovers to other countries,\u201d the IMF communications department statement notes.<\/p>\n The statements from the IMF published on Saturday follow the recent signals of a pending recession,<\/a> and one analyst who noted the economic fallout could be \u201c10x worse than the Great Depression.\u201d Inflation has been on the rise,<\/a> and investors are worried about hawkish central banks raising interest rates and tapering large asset purchases. More specifically, the U.S. Federal Reserve is expected to raise the benchmark interest rate<\/a>, but people some predict the ongoing conflict in Europe could stop<\/a> this from happening.<\/p>\n Meanwhile, the price of a single ounce of .999 fine gold has risen 0.84% during the last 24 hours, reaching a high of $1,989 per ounce<\/a> on March 6. On Sunday evening (EST) Dow Jones futures<\/a> dropped significantly<\/a>, alongside declines stemming from Nasdaq futures<\/a> and S&P 500 futures<\/a>. Equities markets are expected to get roiled on Monday and the global cryptocurrency market capitalization on Sunday slid in value<\/a>. At 8:00 p.m. (EST) on Sunday the crypto economy is down $1.8 trillion, recording a -3.2% change during the last 24 hours.<\/p>\n The IMF noted that there has been critical infrastructure damage in Ukraine. Last week, the IMF explained that the country has $2.2 billion available<\/a> between now and the end of June. Moreover, World Bank Group, the group of five international entities that makes leveraged loans to countries, is \u201cpreparing a $3 billion package of support in the coming months,\u201d the IMF detailed on March 1.<\/p>\nIMF\u2019s Economic Outlook Amid Ongoing War in Europe Predicts Inflationary Pressures, Supply Chain Disruptions, and Price Shocks<\/h2>\n
![\"IMF](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/03\/pop.jpg\" "\\"IMF")
<\/p>\nGold Continues to Rise, US Futures Markets Slide, Crypto Economy Slips More Than 3% in 24 Hours<\/h2>\n
![\"IMF](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/03\/gold_3d_b_o_usd.png\" "\\"IMF")
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