“The Russian aggression in Ukraine weighs on the recovery” and “is causing an economic slowdown”. This was stated by the Minister of Economy, Daniele Franco, speaking on the sidelines of the annual meeting of the IMF. The head of the Mef also highlighted that “an important, unplanned and unwanted consequence is that the war is contributing to creating a shortage of food and an increase in the price of cereals in many countries”.
To underline the words of the minister also Vincenzo Visco: “From the war a downsizing of growth”, declared the governor of Bank of Italy, “Russia will become a modest weight in the global economy”.
“All the members of the G7 and the EU, including us, strongly condemned the war in Ukraine during the meetings of the International Monetary Fund and the various forums”, continued Minister Franco. In the IMF meeting “we dealt with issues that are now of the utmost urgency, from the economic implications of the war to inflation. This should have been a period of recovery after the pandemic but it has taken a different turn for the trend in energy prices and the invasion of Ukraine ”. The minister then announced that Italy will provide another 200 million euros in aid to Ukraine.