Could the war in Ukraine plunge the world economy into a new crisis? | business and economy

Of: counting the costs

The IMF says Russia’s invasion of Ukraine could “fundamentally alter” the global economic order.

The war in Ukraine is hurting the economies of Russia and its neighbor, and both countries are expected to experience a severe recession this year.

The economic consequences of the fighting will not only be felt by the conflicting parties. The sanctions imposed on Russia and rising energy prices could inflict pain on other nations as well.

The International Monetary Fund (IMF) says the war could have a serious impact on the global economy. It expects to lower its growth forecast globally.

As Russia turns to China’s yuan to survive sanctions, could other countries turn away from the US dollar? Is the greenback in danger?