"IMF Director Warns of Tough Times Ahead for Russia's War Economy"

The head of the International Monetary Fund, Kristalina Georgieva, cautioned that despite an improved growth outlook for Russia's economy, it is still in for tough times due to significant challenges. The country's increased economic growth is largely driven by a surge in military production, while consumption has declined, resembling the Soviet Union's economic model. With soaring defense spending and an exodus of skilled workers, Georgieva anticipates difficult times ahead for Russia, exacerbated by reduced access to technology due to sanctions.