Iran War Could Push World Economy To Brink Of Recession, Warns International Monetary Fund
As the conflict in West Asia continues without a solution, International Monetary Fund (IMF) on Wednesday, April 15, warned that the further escalation in the current war against Iran and a continued disruption of oil flow could push the world to the brink of a recession.
The organisation warned that the oil price could average $110 a barrel in 2026 and $125 in 2027. The worst case scenario would be repeated shocks to the energy market, which would potentially slow down global economic growth significantly, the IMF said.
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The reports come as the US and Iran are likely to hold a second wave of peace talks in Pakistan this week. The bombing campaign between the two countries had ceased after a ceasefire agreement was reached for two weeks.
As the ceasefire deadline nears, fears of fresh conflict looms. The world is eagerly waiting for a positive development in the negotiations between the US and Iran. The initial peace talks failed to achieve a deal, allegedly due to excessive US demands and the refusal of the Islamic republic to agree to the terms dictated by America.
Read Also: US, Iran To Hold Second Round Of Talk In Pakistan As Two-Weeks Ceasefire Deadline Looms
