"Russian invasion of Ukraine impedes post-pandemic economic recovery worldwide. The increased geopolitical risks induced by the Russian invasion of Ukraine will weigh adversely on global economic conditions throughout 2022/2023. Such effects are estimated to reduce GDP and boost inflation significantly, exacerbating the policy trade-offs facing central banks around the world."

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Introduction The Russian invasion of Ukraine has farreaching consequences not only for the countries directly involved but also for the global economy ... View the full answer