Sending a loud message to 79-year-old President Joe Biden and 70-year-old Russian President Vladimir Putin, the Washington-based International Monetary Fund [IMF], supplying financing to much of the third world, issued a near unanimous call to end the Ukraine War, calling it the single biggest factor in inflation and slowing the global economy. Nothing could be more explicit to Biden, whose proxy war using Ukrainian troops, has kept the war going for nearly eight months. Biden has diverted attention away from the rule the Ukraine War in global inflation and recession, continues his vendetta with Putin. Nadia Calvino, Spain’s economic minister, said that Russia blocked the IMF’s nearly unanimous communiqué to end the war for the purpose of preserving the world economy in the most vulnerable places on earth, especially the poorest parts of sub-Saharan Africa.
Biden has denied that his proxy war against Russia has damaged the world economy. Yesterday’s admission by the IMB and World Bank leaves no doubt that that whatever Biden makes up that drives inflation and recession around the globe, the world knows now it’s, in fact, the Ukraine War. Biden points all fingers as Putin to end the war but it takes two to tango, and the White House could step up and let peacemakers in the U.N. call for ceasefire and peace talks in Istanbul or elsewhere. Turkey’s 69-year-old President Recp Tayyip Erdogan has invited the warring factions to Istanbul to end the conflict and resolve any differences. Biden and Ukraine’s 44-year-old President Volodymyr Zelensky have refused to take Russia’s offer to resolve the conflict at the peace table, thinking with all the land Putin has seized in Ukraine, they need to get more back before starting negotiations.
Fore the last few weeks Biden has talked about nuclear Armageddon, showing the time to move the conflict to the peace table is long overdue. Once Putin started talking about using nukes, the world should have heaped pressure on Biden to go to the peace table at the earliest possible times. Zelensky wants no part of peace talks largely because his Kiev government has received nearly $20 billion from the U.S. alone to fund his government and the war with Russia. Zelensky doesn’t want to lose the U.S. cash-cow to Kiev, preferring to keep fighting Russia, despite the risks of WW III and nuclear war. As far a Zelensky is concerned, WW III has already started in Ukraine. Zelensky isn’t one bit concerned about the IMF or World Bank’s analysis that the Ukraine War has fueled the worst global inflation in 40 years, hurting developing countries around the planet, needing a change now not later.
Biden and the Western allies and press have done everything to deny the Ukraine War’s effect on inflation and recession. Any announcement of ceasefire or peace talks would cause an immediate bounce in world stock markets, knowing that there’s light at the end of the tunnel. Keeping the war going has harmed economies especially in the developing world requiring funding from the IMF and World Bank. IMF and World Bank admits that the Ukraine War fuels inflation and recession in the world economy is the first clear sign that the conflict must end. Zelensky must be told by Biden that the U.S. will no longer give Ukraine War a blank check, knowing the damage it does to the global economy. Biden’s selfish proxy war, though started by Putin Feb. 24, has consequences for the world. Ending the war would have the most stimulus effect on the global economy.
IMF managing director Kistalina Georgieva put out the communiqué for all to hear. “It is very clear for just on the human level, practical level, objective level—Stop the war. Stop the war.” Biden can no longer ignore the pleas from the IMF and World Bank of just how much damage his proxy war does to the global economy. Zelensky doesn’t care about the war’s effect on the global economy. Zelensky only seeks more cash-and-arms, not concerned at all about the war’s effect on the world economy. Whether admitted to or not, Zelensky isn’t concerned either with the war morphs into WW III or nuclear war on the European economy. Thinking Ukraine has suffered more than any other country, Zelensky has no sympathy for the war’s effect on anyone. It’s up to Biden, who subsidizes Zelensky, to tell the neophyte Ukrainian leader that the war can’t can’t go on indefinitely.
Biden can no longer deny that the Ukraine War has had a catastrophic effect on the world economy, driving up energy prices, fueling inflation and driving the world economy into recession. IMF and World Bank made clear that the Ukraine War, not some miscellaneous factor, drives today’s inflation and economic slowdown. “We will ensure coherence of the overall monetary and fiscal stances, with due consideration to the complementary role of structural policies in easing trade-offs,” said the IMF and World Bank to the U.K. “Recognizing that many currencies have moved significantly this year with increased volatility, we reaffirm our commitments to exchange rates, are made in April 2021,” IMF said. Ukraine War has hammered currencies in the U.K. and EU, all because they won’t stand up to Biden. Biden must be told that the time is long overdue to go to the peace table.
About the Author
John M. Curtis writes politically neutral commentary analyzing spin in national and global news. He’s editor of OnlineColumnist.com and author of Dodging The Bullet and Operation Charisma.
