Economic pain from Iran war will hit poor countries hardest, officials say

IMF/World Bank spring meetings hear warnings that some developing countries may require additional lending

‘It’s a twilight zone’: Iran war casts deep shadows over IMF gathering in Washington

Rachel Reeves joins global finance chiefs in highlighting how households and businesses are feeling the pain of higher energy prices Middle East crisis – live updates The most severe energy shock since the 1970s, the risk of a global recession and households everywhere stomaching a renewed surge in the cost of living – hitting the most vulnerable hardest. In a sweltering hot Washington DC this week, the message at the International Monetary Fund meetings was chilling: things had been lookin...

By Richard Partington in Washington

The burden of taxes

THE unwarranted and illegal war imposed on Iran represents an extraordinary exogenous shock for developing countries. Pakistan is particularly vulnerable on this front. It has an outsized import dependency on a wide range of products, from energy to food, and from industrial raw materials to finished goods. Remittances from non-resident Pakistanis keep not just the external account afloat, but also provide a vital lifeline to 30 to 40 million family members at home. Amplifying Pakistan’s expo...

By none@none.com (Sakib Sherani)

Bessent’s busy week clashes with global thirst for U.S. attention

At the IMF and World Bank spring meetings, some participants grumbled that U.S. officials were reluctant to discuss the U.S.-war driven oil shock.