IMF to cut global growth forecast due to Mideast war
The International Monetary Fund will lower global growth forecasts due to the Middle East war, its chief said Thursday, warning of the conflict's "scarring effects" despite a fragile ceasefire.
"Even in a best case, there will be no neat and clean return to the status quo ante," IMF managing director Kristalina Georgieva said.
Georgieva said that -- even in the fund's "most hopeful scenario" -- spiraling energy costs, infrastructure damage, supply disruptions and a loss of market confidence meant growth would be less than expected.