FDI hit by Ukraine-Russia war: UN

What: On Wednesday, the United Nations (UN) said that the global foreign direct investment (FDI) is likely to decline due to the war between Ukraine and Russia. The war has caused food, fuel, and financial crises which have severely impacted the business climate.

FDI Levels: FDI had reached pre-pandemic levels and stood at nearly $1.6 trillion in 2021 but it is likely to decline in 2022.

Statements: "The global environment for international investment changed dramatically with the onset of the war in Ukraine," UNCTAD Chief Rebecca Grynspan said. "The war is having effects well beyond its immediate vicinity, causing a cost-of-living crisis affecting billions of people," the chief also said.

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