By Kola Alhassan
The International Monetary Fund (IMF) has said countries that have very close economic affinity with Ukraine and Russia risk scarcity and supply disruptions.
This was made known in a statement by by the Washington-based Fund. It was entitled: ‘IMF Staff Statement on the Economic Impact of War in Ukraine’
The Fund noted that poor families across the world would suffer from hike in food and fuel prices, as the Ukraine-Russia crisis continues.
It was gathered that Russia is among Nigeria’s top 10 import trade partners between the third quarter of 2020 and 2021, with a total import trade value of N993.38 billion.
The statement reads in part: “Countries that have very close economic links with Ukraine and Russia are at particular risk of scarcity and supply disruptions and are most affected by the increasing inflows of refugees.”
The IMF bemoaned the loss of life, human suffering and the damage to Ukraine’s physical infrastructure.
The statement noted that the crisis would put the world in serious economic problems since there is a rapid increase in energy and commodity prices already.
