World lenders see 'extensive' economic fallout from Ukraine war

Authorities in Kyiv said one person was killed early today when a downed Russian rocket struck a residential building in the capital's northern suburbs. They said a school and playground were also hit. Credit: AFP Photo

The International Monetary Fund, World Bank and other top world lenders on Friday warned of "extensive" economic fallout from the Ukraine war and expressed "horror" at the "devastating human catastrophe".

"The entire global economy will feel the effects of the crisis through slower growth, trade disruptions, and steeper inflation," read a joint statement from institutions including the European Bank for Reconstruction and Development.

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