A vendor chats with a customer at a stall in an outdoor market in Mexico City, Mexico January 23, 2022. Picture taken January 23, 2022. REUTERS/Luis Cortes
March 16, 2022
NEW YORK (Reuters) – The poorest will be the hardest hit across Latin America and the Caribbean by the economic fallout from Russia’s invasion of Ukraine, with the region facing further inflationary pressure, a senior official at the International Monetary Fund said on Wednesday.
“High inflation, especially food inflation, affects the poor in our region the most. So that’s the main challenge that the region will face,” Ilan Goldfajn, the head of the IMF’s Western Hemisphere Department, told Reuters.
The cost of U.S. crude oil jumped to its highest level since 2008 earlier this month, while the price of wheat, for which Ukraine and Russia account for 30% of global exports, reached a record…
