War threatens ‘unprecedented’ energy shock, IMF warns
If there were any doubts over the potential scale of the energy crisis, the International Monetary Fund (IMF) has dispelled them.
In its latest assessment, it says failure to resolve the war in the Middle East could lead to crisis of “unprecedented scale”.
“The ultimate size” of the shock depended on the scale and duration of the conflict, it said.
Assuming the conflict is short-lived, the IMF projects global growth of 3 per cent for this year, a downward revision of 0.2 per cent on its January projections, with headline inflation expected to rise from 4.1 per cent in 2025 to 4.4 per cent in 2026.
Our economics correspondent Eoin Burke-Kennedy has more here.
