Ukraine war sparking turmoil for world economy – EBRD
LONDON: The Ukraine war has major economic consequences for energy, food, inflation and poverty, according to the European Bank for Reconstruction and Development.
The EBRD’s chief economist, Beata Javorcik, spoke to Agence France-Presse about the fallout from Russia’s invasion of Ukraine, from where more than three million refugees have fled so far.
Global lenders are giving billions for Ukraine, including a 2.0-billion-euro ($2.2 billion) “resilience package” from the London-based EBRD, but there is currently no end in sight to the conflict.
The crisis has sent commodity prices rocketing on supply fears, fueling inflation that is already at multi-decade highs.
AFP: What are the costs to rebuild Ukraine?
Beata Javorcik: The costs of this war will depend on how long fighting will last. Big parts of the country are functioning — infrastructure is there, the banking…
