The head of a key IMF committee has called Russia's war in Ukraine the "single most important cause" of slowing economic growth and creating global instability.
According to the French news agency AFP, Nadia Calvino's comments came as finance ministers and central bankers gathered in Washington for the annual meetings of the IMF and the World Bank.
These meetings focused on war, rising inflation and the climate crisis.
In a press conference, he described peace as the main tool of economic policy and said that 'war is the single most important factor that slows down development and creates inflation, energy and food insecurity and uncertainty. '
Calvino added that the committee, which includes Russia, failed to reach an agreement because Russia blocked consensus.
The statement also said that countries have welcomed voluntary contributions to provide financial assistance to Ukraine.
On Thursday, the Group of 20 major economies closed talks in Washington without issuing a joint statement.
"Stop the war, don't you think that's a more straightforward way to improve the world economy?" IMF chief Kristalina Georgieva said at a press briefing on Friday.
This week, the International Monetary Fund predicted that global economic growth will slow in 2023 due to the increase in food and energy prices due to the war in Ukraine.
IMF Chief Economist Pierre Olivier Gogacha said that more than a third of the world economy may suffer economic contraction this year or next year, citing rising inflation due to the Corona virus and the Ukraine war.
He warned that the world's three largest economies, the United States, the European Union, and China, will continue to hinder economic growth.
