IMF: Oil-importing economies at risk
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The International Monetary Fund (IMF) warns that oil-importing economies are vulnerable to economic fallout from the Middle East conflict due to higher energy prices. The IMF advises policymakers to adopt targeted and temporary measures to support vulnerable groups while maintaining fiscal discipline.
The International Monetary Fund (IMF) is warning that oil-importing economies are at risk due to the economic fallout from the Middle East conflict. Higher energy prices have cut the world's daily oil flow by 13% and liquified natural gas supply by 20%. Oil prices surged from $72 to $120 per barrel and remain high. The IMF says over 80% of countries are net oil importers, making them vulnerable. Small island developing states and Sub-Saharan African economies are among the most vulnerable. The IMF advises policymakers to adopt targeted measures to support vulnerable groups while maintaining fiscal discipline.
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