Iran war shock causes IMF to revise down global growth forecast
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The International Monetary Fund (IMF) has revised down its global growth forecast due to the US war on Iran, citing a negative supply shock and higher prices. The IMF warns that the world is ill-equipped to deal with the economic shock, with depleted policy space and increased government debt.
The IMF has revised down its global growth forecast due to the US war on Iran. The war has triggered a negative supply shock, pushing prices up. The IMF head, Kristalina Georgieva, said the world was less prepared to meet a major economic downturn. The war has caused serious disruption to the economies of directly affected countries. Low-income countries are especially at risk of food insecurity. The IMF warns that central banks must balance attention to inflation with concern about not suffocating growth.
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