Global economy faces biggest test since WWII - IMF

The International Monetary Fund (IMF) has warned against “geoeconomic fragmentation” as policymakers and business leaders gather at the World Economic Forum in Davos, Switzerland. In a blog post ahead of this week’s event, IMF Managing Director Kristalina Georgieva said the global economy faces its “biggest test since the Second World War”, with Russia’s invasion of Ukraine compounding the residual economic effects of the Covid-19 crisis, dragging down growth and driving inflation to multi-decade highs. The head of the International Energy Agency has urged countries to make the right investment choices in response to the fossil fuel shortages triggered by Russia's attack on Ukraine.