The International Monetary Fund (IMF) has warned that the ongoing Middle East war poses significant risks to global economic stability, citing potential disruptions to trade, energy supplies and volatility in financial markets as the conflict escalates.
The warning comes as the United States and Israel intensified strikes against Iran, with explosions reported in Tehran and other major cities. Authorities described the operations as pre-emptive, while global markets reacted to rising uncertainty and heightened geopolitical tensions.
The crisis has already triggered widespread disruptions, including flight suspensions, shipping delays and temporary shutdowns by some energy companies. Super tanker costs have surged to record levels, and the strategic Strait of Hormuz, which carries about 20 percent of the world’s oil, has become a focal point of concern amid reported attacks on vessels.
The IMF stated that the overall impact will depend on the duration and intensity of the conflict and noted that a comprehensive assessment will be included in its upcoming April World Economic Outlook report. It acknowledged that it is too early to determine the full economic consequences of the crisis.
Analysts warn that prolonged escalation could further drive up oil prices and destabilise financial markets globally. In response, Nigerian oil marketers have called for stronger domestic refining capacity and consistent crude supply to cushion local markets from external shocks, as the world awaits the IMF’s detailed forecast.
