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The IMF cut its forecast for global growth to 3.6 percent this year, a steep drop from last year's estimate of 6.1 percent. South Africa declared a national state of disaster following destructive floods on the eastern coast. YouTube blocked the campaign account of Hong Kong’s only leadership candidate, citing US sanctions. Analysis: The War in Ukraine: Geopolitical Implications for South Caucasus and Turkey. Analysis: Ukraine War Update: Heavy Artillery, G20 Walkout, the Letter “Z.”

Condition Updates

A rundown of important global risk developments in markets, in business, and region by region.

Analysis: The War in Ukraine: Geopolitical Implications for South Caucasus and Turkey

As Russia launches the next phase of its war in Ukraine, neighboring countries must manage the spillover of the conflict, which includes an array of challenges, from political pressure to take sides, polarized public opinion, sanctions, supply chain disruptions and – for a few – new opportunities.

Analysis: Ukraine War Update: Battle of Donbas Begins

From Mariupol, Serhiy Volyna, the commander of the 36th Separate Marine Brigade said his marines "may be facing our last days, if not hours…The enemy is outnumbering us 10 to one." He called for an "extraction procedure" and urged that everyone — soldiers, the wounded, and hundreds of civilians — be taken to safety on the territory of a third country.

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