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29th Mar 2024

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IMF: Ukraine war is 'a crisis on top of a crisis'

The war in Ukraine will hit global economic growth for 2022 and 2023, the IMF's managing director, Kristalina Georgieva, said on Thursday. Surging energy and food prices will hurt fragile economies the most. "To put it simply, we are facing a crisis on top of a crisis," Georgieva said "In economic terms, growth is down and inflation is up. In human terms, people's income are down and hardship is up."

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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