The latest forecast released by the International Institute of Finance (IIF) on the 25th sharply lowered the global economic growth forecast for 2022 from 4.6% to 2.3%, due to the impact of Russia Ukraine conflict, the epidemic and the tightening of monetary policy by the Federal Reserve. According to Reuters, the report released by the International Finance Association on the 25th lowered its forecast for global GDP growth this year from 4.6% to 2.3%. Among them, as the euro zone has been greatly affected by the conflict between Russia and Ukraine, the forecast of the International Finance Association for its economic growth this year has been reduced from 3% to 1%. The agency said that this is actually a prediction that the euro zone economy will face recession and GDP will decline in the second half of this year. The International Finance Association believes that due to high commodity prices, Latin America's GDP growth this year is expected to be 2%, while the economic growth of oil exporting countries in the Middle East and North Africa will be resilient to a certain extent. On the basis of the latest forecast, the International Finance Association believes that the risk of global recession is rising. According to the International Finance Association, in this context, non resident capital flows to emerging markets will decrease by 42% this year, from $1.68 trillion last year to $972billion. Among them, due to the sanctions imposed by western countries, Russia is expected to outflow about US $29billion, while last year it inflow more than US $58billion. Brazilian capital inflows this year are expected to halve to $55.3 billion. The International Finance Association also warned that there was a widespread risk of a food crisis in the world, and the Middle East and Africa might be the most severely affected. It also mentioned the agricultural export bans of Russia and India, and the interference of planting and harvesting activities in Ukraine. The International Finance Association pointed out that, to a certain extent, the food price shock caused by the conflict between Russia and Ukraine has little impact on Asian countries, because rice accounts for a large proportion of their diet. In recent years, rice prices have been under pressure, and rice prices have been less affected by the global rise in food prices. (Xinhua News Agency)