IMF

IMF Director Kristalina Georgieva warned the global economy faces the "biggest test since the Second World War" as it confronts a "potential confluence of calamities."

Federal Reserve Chairman Jerome Powell said Thursday that central bank officials could raise interest rates by 50-basis points in May and subsequent months as they seek to tame the hottest inflation in four decades.

Treasury Secretary Janet Yellen on Tuesday blamed the Russian war in Ukraine for growing food insecurity and skyrocketing prices, calling institutions to "deepen their response" to risks of hunger.

The global economic outlook has darkened considerably as the Russian war in Ukraine and sky-high inflation weigh on the still-fragile recovery from the pandemic, the International Monetary Fund warned on Tuesday.

IMF chief warned this week that Russia's invasion of Ukraine has weakened the economic outlook for most of the world and sky-high inflation posed a "clear and present danger" to the global economy.

Russia's invasion may have led to prolonged, heightened inflation and greater adoption of cryptocurrencies among nations.

The International Monetary Fund's executive board will issue a statement of support for Managing Director Kristalina Georgieva after reviewing allegations she pressured World Bank staff to alter data to favor China, sources familiar with the decision said on Monday.

The top Democrat and Republican on the U.S. Senate Foreign Relations Committee have urged President Joe Biden to "ensure full accountability" over a World Bank data-rigging controversy that has embroiled International Monetary Fund chief Kristalina Georgieva.