IMF warns of economic impact of Ukraine crisis

IMF Managing Director Kristalina Georgieva on Wednesday called for a peaceful resolution to the standoff between Russia and Ukraine, noting it is already contributing to a spike in energy prices and hurting global growth.

"At the time of higher uncertainty for growth in the world economy, geopolitical tensions only make the situation complex and we already see that in terms of impact on energy prices," Georgieva said at an event organized by The Washington Post.

"We very much hope that they would be a diplomatic solution because of the people of Ukraine, and also because of the necessity sustained recovery of the world economy."

She called  "for pragmatism to prevail" in the conflict so the United States and other NATO countries do not follow through on threats to impose sanctions on Russia, which could cause widespread economic disruptions. The IMF is in the process of deploying $2.2 billion in assistance for Ukraine, Georgieva said.