Finance ministers, stung by hit to economies, call for full Iran war ceasefire
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Finance ministers from 11 countries, led by Britain, called for a full ceasefire in the Iran conflict, warning it would harm the global economy. They committed to being fiscally responsible and avoiding protectionist actions amid the crisis.
Finance ministers from 11 countries, including Britain, Australia, and Japan, have called for a full ceasefire in the Iran conflict. The joint statement, issued during the IMF and World Bank spring meetings in Washington, warned that the war poses serious risks to global energy security and economic stability. The ministers expressed concern that the conflict would weigh on the global economy and markets, even with a durable resolution. They committed to being fiscally responsible with any new support and avoiding protectionist actions. The statement followed the International Monetary Fund's cut to global economic growth forecasts due to the war. British finance minister Rachel Reeves emphasized that a sustained ceasefire is key to limiting costs for households.
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