IMF chief: Rapid economic recovery possible if war ends soon

The global economy can still recover rapidly from the Iran war shock if the conflict ends in the next few weeks, but the situation will worsen if it continues through the summer, International Monetary Fund managing director Kristalina Georgieva said on Tuesday.

Georgieva affirmed that the IMF, World Bank and International Energy Agency are aiming to hold regular calls every two weeks to assess the disruption to global energy markets caused by the US-Israeli war on Iran.

She also reported that emergency financing is robust and reliable, with precautionary instruments in a “good place”.

The World Bank President, Ajay Banga, said the bank will increase funding for countries hardest hit by the war over the next 15 months.