Sunday, 6 March 2022

The Drift To A Wider War.

 Baltic Dry Index. 2148 +44  Brent Crude 128.05

Spot Gold 1985  Wheat  1,294 +85.00

Coronavirus Cases 02/04/20 World 1,000,000

Deaths 53,100

Coronavirus Cases 07/03/22 World 445,497,963

Deaths 6,015,703

 Due to an ISP change tomorrow, the next LIR update will be on Tuesday.

This week, will the war end or widen?

The IMF gives a warning and prepares for the reconstruction of Ukraine.

IMF warns of economic fallout to Ukraine invasion

By Ramishah Maruf, CNN  Updated 2124 GMT (0524 HKT) March 5, 2022

New York (CNN)The International Monetary Fund said it would bring Ukraine's request for $1.4 billion in emergency financing to its executive board as early as next week, the IMF said Saturday.

And it said countries with close economic ties to Russia are also at risk for shortages and supply disruptions. It is in talks with neighboring Moldova for aid options.

"The ongoing war and associated sanctions will also have a severe impact on the global economy," the IMF said.

After a meeting Friday led by Managing Director Kristalina Georgieva, the IMF said there were serious economic consequences in the region. Energy and wheat prices have surged, adding to the effects of inflation from the pandemic and global supply chain disruptions.

"Price shocks will have an impact worldwide, especially on poor households for whom food and fuel are a higher proportion of expenses," the IMF said in a statement. "Should the conflict escalate, the economic damage would be all the more devastating."

The IMF said the effects of sanctions on Russia would also spill into other countries.

Monetary authorities throughout the world will have to carefully monitor rising prices in their nations, it added, and policies should be implemented to protect economically vulnerable households.

Ukraine, whose airports have been damaged and are now closed, will face significant reconstruction costs, according to the IMF. The organization said earlier this week the country has $2.2 billion available between now and June from a previously approved standby arrangement.

https://edition.cnn.com/2022/03/05/business/imf-ukraine-economy/index.html

In the new European war, there was no good news over the weekend. Russia’s war against Ukraine’s cities continued unchecked.

Roughly a million and a half refugees have fled into neighbouring states.

Pleas to end the fighting are totally ignored.  Humanitarian corridors for refugees or to bring in humanitarian aid are agreed and then ignored. 

A frustrated NATO west, huffs and puffs up a storm of hot air, but in reality is powerless to stop the new European war, only able to turn it into World War Three with nukes. 

White House Says U.S., Poland Working on Warplanes for Ukraine

·         Ukraine’s president called for eastern NATO members to help

·         Zelenskiy tells lawmakers U.S. should halt Russian oil imports

By Jennifer Jacobs and Daniel Flatley

Updated on5 March 2022, 23:48 GMT

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