WASHINGTON, April 19 — Russia’s invasion of Ukraine has rocked markets and prompted countries to impose retaliatory measures that could hurt the global economy, but no financial crisis has materialised yet, the IMF said today.
“Despite the anticipated economic impact, especially in the war region and Europe, no global systemic event affecting financial institutions or markets has materialised so far,” the IMF said. Those risks “may test the resilience of global financial markets amid huge uncertainties, especially should stress interact with preexisting vulnerabilities.”
The IMF said “the war has crystallised specific amplification channels of the shock that operate through financial markets,” such as causing volatility in commodities prices.
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