Iran war to permanently scar global economy even if peace is reached: IMF
The head of the International Monetary Fund (IMF) has warned the Iran war will cause permanent scarring on the global economy even if the fragile two-week ceasefire holds.
In a keynote address yesterday, Kristalina Georgieva said the conflict has reversed the global economy's recent surge, which was driven by the AI boom and tech investment.
"In fact, had it not been for this shock, we would have been upgrading global growth," she told attendees in Washington.
IMF managing director Kristalina Georgieva delivering a keynote address in Washington yesterday. (IMF)
"But now, even our most hopeful scenario involves a growth downgrade. Why? Because of significant infrastructure damage, supply disruptions, losses of confidence, and other scarring effects.
"Even in the...
