00:00even if unfortunately the audience is still virtual it is right to remain prudent and to remind ourselves that the
00:08pandemic is not yet over
00:10it is now almost two months since russia's unprovoked and unjustified invasion of ukraine two months of indiscriminate killings bombings
00:21of civilians targets
00:23and absolutely shocking violence two months of a war happening just across the eu and nato borders
00:31the effect of which are being felt the world over indeed in this week's imf spring meetings
00:39are overshadowed by the impact of the war on the world economy but the consequences of putin's
00:48senseless war extend beyond the economy it is also reshaping the energy landscape and triggering a
00:56shift in defense policies i will focus this morning on the war's economic impact while also touching
01:05on its broader implication in these two areas energy and defense
01:10response
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