Middle East War: IMF Warns of Global Economic Shock

The war in Iran is leading the IMF to downgrade its global growth forecasts due to a major energy shock. Global oil flows have decreased by about 13% and liquefied natural gas by 20%. Energy-importing countries, particularly in Sub-Saharan Africa and small island states, are especially vulnerable. Kristalina Georgieva, the IMF's managing director, calls for better international coordination to address this crisis.