The massive money printing is driving up inflation and food prices, according to the Russian president
The world economy is struggling under overwhelming stress caused by the unwise macroeconomic policies of some countries, Russian President Vladimir Putin said during an online address to an extraordinary G20 summit on Wednesday.
Speaking via video link, the Russian leader noted that measures taken by governments, including those defended as necessary to fight the effects of the pandemic, have led to global economic turmoil.
“The injection of trillions of dollars and euros into the economy, into the banking system, ultimately provoked a surge in global inflation, a rapid increase in food and energy prices. This is precisely what lies at the heart of the events that I mentioned [turbulence in the global economy], not our actions and our attempts to achieve justice in Ukraine, no,” Putin said.
According to the Russian president, such policies have…