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The IMF Chief Kristalina Georgieva warned Thursday that the strength of the global economy is once again being put to the test by ongoing conflict in the Middle East.
“This war, especially if it drags on longer, has the clear potential to influence worldwide energy costs, market confidence, economic growth, and inflation, while demanding more from policymakers everywhere,” Georgieva stated during a live stream at the “Asia in 2050” conference in Bangkok.
Earlier, the U.S. and Israel launched strikes targeting Iran, resulting in the killing of Iran’s top leader and igniting a series of retaliatory actions across the Gulf region.
The escalation has caused oil prices to spike globally and disrupted financial markets.
“We live in a world with more frequent and unpredictable shocks, and we have been cautioning our members for some time that uncertainty is now the new normal,” Georgieva emphasized.
“We could be entering a prolonged period of instability.”
She pointed out that energy security is a critical concern for much of Asia, with markets fluctuating dramatically over the past few days.
“The sooner this chaos ends, the better it will be for the entire world.”
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