Task for the week: limit the fallout from biggest oil shock in decades | Richard Partington

The Guardian — Apr 12, 10:37 AM

As World Bank and IMF chiefs gather in Washington the Iran war is driving up energy prices, fuelling inflation and making voters impatient

The world’s finance ministers and central bank governors gather in Washington this week for the half-yearly meetings of the https://www.theguardian.com/business/imf">International Monetary Fund and the https://www.theguardian.com/business/worldbank">World Bank, with the global economy in a perilous spot.

Not since the foundation of the https://www.theguardian.com/business/2021/may/16/why-the-landmark-bretton-woods-deal-is-as-relevant-today-as-in-1944">Bretton Woods institutions late in the second world war have global conflicts triggered this much economic turbulence.

The volatile 1970s come close.

But the https://www.theguardian.com/world/us-israel-war-on-iran">US-Israeli war on Iran, coming so soon after the Covid pandemic and Russia’s invasion of Ukraine, take the prize.