LONDON: The International Monetary Fund, World Bank and other top global lenders warned Friday of “extensive” economic fallout from Russia’s invasion of Ukraine and expressed horror at the “devastating human catastrophe”.

Ukraine economy to contract sharply in 2022 due to Russia invasion, IMF report says

“The entire global economy will feel the effects of the crisis through slower growth, trade disruptions, and steeper inflation, harming especially the poorest and most vulnerable,” they said in a joint statement, warning that the conflict was increasing poverty.