THE IMPACT OF THE RUSSIA-UKRAINE CONFLICT ON MALAWI’s ECONOMY “UNITED NATIONS MALAWI PERSPECTIVES
THE IMPACT OF THE RUSSIA-UKRAINE CONFLICT ON MALAWI’s ECONOMY “UNITED NATIONS MALAWI PERSPECTIVES
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April 28, 2023
The ongoing Russia-Ukraine conflict has triggered uncertainty in the global economy and the Malawian economy has not been spared. The world was gradually emerging from the adverse impacts of the COVID-19 pandemic when it again got hit by this conflict.
This has presented additional development challenges to the global community, with resulting impact on the Malawian economy. Its adverse impacts are being felt by economies around the world, especially developing countries and fragile states in the form of inflationary pressures from high oil and fuel prices, supply chain disruptions, and increased risk to food security.
This geopolitical event has the potential to exacerbate hunger, poverty, inequality, and youth unemployment in Africa, leading to the continent drifting further away from recovery from the COVID-19 pandemic. If the conflict continues, so will the risk of pushing African citizens including Malawi’s most vulnerable further into poverty.