The ongoing conflict in the Middle East, particularly between Iran and Israel, is poised to significantly affect global economic stability through rising oil, fuel, and energy prices. The International Monetary Fund's Chief Economist, Gourinchas, noted that while the conflict has not yet caused sustained higher oil prices, an escalation could lead to a 15% increase in global oil prices and higher shipping costs to avoid Red Sea attacks, resulting in a 0.7 percentage point rise in global inflation. This situation could prompt central banks to tighten monetary policy, potentially harming economic growth. The IMF Managing Director also highlighted that these developments could derail the previously positive outlook for the global economy.
Mideast-related oil price spike threatens ‘relatively good’ economic outlook: IMF chief economist https://t.co/euxTmNdQm3
The recent oil price spike fueled by rising Middle East tensions has the potential to derail the #IMF’s “relatively good” outlook for the world economy, its chief economist says. https://t.co/oH3Lmiqt45
Middle East conflict risks sharp rise in oil prices, says IMF https://t.co/9dHcITxzDJ
Middle East conflict risks a sharp rise in oil prices, says IMF https://t.co/56kVL1jf37
Conflict in Middle East risks another food and energy price surge, warns International Monetary Fund https://t.co/TIpDxEXV8p
IMF chief economist: 15% increase in global oil prices due to a wider Middle East conflict, along with higher shipping costs to avoid Red Sea attacks, would likely increase global inflation by 0.7 percentage point
International Monetary Fund Chief Economist said on Tuesday that a wider conflict between Israel and Iran would likely lead to higher energy prices, which would in turn prompt central banks to tighten monetary policy to control inflation, hurting growth. https://t.co/sS7YLQmfF0
Chief Economist at the International Monetary Fund: The expansion of the conflict in the Middle East will raise energy prices. https://t.co/iEx1N1qqEO
News Alert | "Mideast conflict not yet spurring sustained higher oil," says IMF These are their comments on the outlook for China👇 @IMFNews https://t.co/1Et4iBolxh
IMF CHIEF ECONOMIST GOURINCHAS: THE MIDEAST CONFLICT IS NOT YET SPURRING SUSTAINED HIGHER OIL PRICES.
An intensified conflict between Iran and Israel would have a profound negative impact on the global economy and threaten a devastating spike in oil, fuel and energy prices, experts have warned @cahalmilmo reports https://t.co/63UoUrP7JT
Continuing in turbulence in the Middle East will cause crude oil prices to spike & as the International Monetary Fund Managing Director said, pretty simple formula , oil prices rise. Inflation jumps.