The International Monetary Fund warned against global economic fragmentation as a consequence of Russia’s invasion of Ukraine, saying that undoing decades of integration will make the world poorer and more dangerous.
Nations should lower trade barriers to alleviate shortages and lower prices, after more than 30 countries restricted trade in food, energy and other key commodities, IMF managing director Kristalina Georgieva said.
Countries should diversify imports to secure supply chains and reduce output losses from interruptions, they said. The Group of 20 biggest economies also should improve its common framework for dealing with debt restructuring to help deal with vulnerabilities, the officials wrote.
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