The head of the International Monetary Fund(IMF) said the organization was preparing to revise down its global economic growth outlook due to the adverse impact of the war in Ukraine and international sanctions on Russia.

IMF Managing Director and Chairwoman Kristalina Georgieva made the statement on Thursday pointing out that the Ukraine crisis has triggered rising food and energy prices and disrupted global trade.

Georgieva expected Russia to "definitely" go into a recession due to unprecedented sanctions, but that it remains uncertain whether neighboring countries in Europe and Asia will follow.

While still forecasting a positive trajectory for the world economy, the IMF chief said the agency's primary concern is focused on how sanctions may further hinder post-COVID-19 recovery in countries where it has already been sluggish.