The ongoing conflict between Russia and Ukraine will reportedly have major ramifications for the global economy, which is just recovering from the stress of the coronavirus pandemic.The International Monetary Fund (IMF) had pointed out earlier that both Russia and Ukraine are major commodity producers, and disruptions there have resulted in soaring global prices, especially that of oil and natural gas. With Ukraine and Russia accounting for up to 30% of the global exports for wheat, food prices, too, have jumped. The IMF added that the entire global economy would feel the effects with slower growth and faster inflation. (Read More)
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