IMF says strait of Hormuz closure raises prospect of ‘major energy crisis’ – video

The Guardian The Guardian —

The International Monetary Fund is forecasting a range of possible global economic scenarios due to the ongoing conflict in the Middle East.

IMF’s chief economist, Pierre-Olivier Gourinchas, says: ‘Our adverse scenario assumes further disruption, leading to higher energy prices and inflation expectations, and tighter financial conditions throughout the year … Our severe scenario assumes that energy supply disruptions extend into next year with greater macro instability’

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