IMF warns of tough global economic times ahead if Middle East war drives oil prices higher
Kuala Lampur, April 16 --
WASHINGTON, April 16 - IMF chief Kristalina Georgieva warned yesterday of difficult times ahead for the global economy if war in the Middle East is unresolved and oil prices stay high, adding that inflation risks could seep into food prices.
"We must brace for tough times ahead" if the conflict persists, she told reporters at a press briefing during the International Monetary Fund and World Bank's spring meetings in Washington.
The gathering brings government and financial leaders to the US capital this week, with policymakers looking to limit economic fallout from the war.
US-Israeli strikes launched against Iran on February 28 sparked Tehran's retaliation, virtually closing the Strait of Hormuz, a ke...
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