About this work
Russia’s invasion of Ukraine and Western sanctions changed emerging market vulnerabilities unevenly. The March 2022 assessment distinguishes large commodity exporters, positioned to benefit from rising prices, from commodity importers and regional trading partners of Russia and Ukraine, whose exposure increased. It updates the IIF vulnerability map around those contrasting channels.
Abstract
Russia’s invasion of Ukraine and Western sanctions changed emerging market vulnerabilities unevenly. The March 2022 assessment distinguishes large commodity exporters, positioned to benefit from rising prices, from commodity importers and regional trading partners of Russia and Ukraine, whose exposure increased. It updates the IIF vulnerability map around those contrasting channels.
Cite this work
Jonathan Fortun, Benjamin Hilgenstock, Jonathan Pingle (2022). Macro Focus: EM Vulnerability to Russia-Ukraine Conflict. Institute of International Finance.