13 April, 2022
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UN global crisis response group, of which ECA is a member released last night, Brief #1 on the worldwide impact of the war in Ukraine
The war in Ukraine, in all its dimensions, is producing alarming cascading effects to a world economy already battered by COVID-19 and climate change, with particularly dramatic impacts on developing countries. Recent projections by UNCTAD estimate that the world economy will be a full percentage point of GDP growth lower than expected due to the war, which is severely disrupting already tight food, energy, and financial markets.