IMF Chief Warns Middle East War Will Drive Inflation Higher and Slow Global Growth
The head of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that the ongoing war in the Middle East is expected to push inflation higher while simultaneously slowing global economic growth, according to remarks given in an interview with Reuters.
She said the conflict has already triggered a major disruption in global energy flows, including a significant reduction in oil supplies following constraints on transport routes such as the Strait of Hormuz, through which a substantial share of the world’s oil and gas passes. The IMF estimates that millions of barrels of production have been affected, with global oil availability reduced by around 13 percent.
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