IMF warns that a sustained rise in energy costs may drive up inflation and slow economic growth
IMF Expresses Concern Over Iran Conflict's Impact on Global Economy
The International Monetary Fund announced on Thursday that it is keeping a close watch on the ongoing conflict in Iran and its effects on global energy supplies. The organization cautioned that if energy prices remain elevated for an extended period, it could lead to higher inflation and slower economic growth worldwide.
IMF spokesperson Julie Kozack informed the press that the war has already caused major interruptions in the transport of oil and natural gas by sea, resulting in crude oil prices soaring by more than 50%, surpassing $100 per barrel. While the IMF has yet to receive official requests for emergency assistance, Kozack emphasized that the institution is prepared to support member nations should the need arise.
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