Middle East Unrest Threatens Global Economy, IMF Warns
IMF forecasts higher prices, slower growth worldwide if Gulf conflict persists, as energy and food costs rise globally.
The International Monetary Fund (IMF) has issued a stern warning that the ongoing conflict in the Middle East could have widespread economic repercussions around the world. According to the Washington-based organization, the disruptions to oil, gas, and fertilizer supplies from the region will lead to higher prices and slower global growth in the coming year.
In a stark message, the IMF said that "all roads lead to higher prices and slower growth worldwide" should the conflict continue to throttle the amount of key resources making their way out of the Gulf. This grim forecast is based on the anticipated rise in energy and food costs, which the IMF believes will harm economic growth globally and potentially leave lasting scars on the global economy.
{{IMAGE_PLACEHOLDER}}Source: The Guardian
