News Desk: The International Monetary Fund (IMF) has flagged the potential risks of the ongoing Middle East conflict on the global economy, warning that prolonged tensions could further slow economic growth and disrupt financial markets.
According to the IMF, uncertainty in financial markets and declining stock indices have already been observed, while rising interest rates could further drive global inflation.
The closure of the Strait of Hormuz threatens nearly 30% of oil shipments, putting additional pressure on oil- and gas-importing nations and raising concerns about higher energy prices worldwide.
