The resilience of the global economy has once again been put to the test by the new conflict in the Middle East, Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), said on Thursday.
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“If this conflict proves to be more prolonged, it has the clear potential to affect global energy prices, market sentiment, growth and inflation, imposing new demands on policymakers,” according to Ms. Georgieva’s opening remarks delivered at the “Asia in 2050” conference in Bangkok.
Highlighting that uncertainty is the new normal, Ms. Georgieva warned that new shocks, of varying forms and magnitudes, will continue to occur.
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For most of Asia, the issue is energy security and, through it, confidence, Ms. Georgieva said, noting that stock markets are already reacting.
The IMF, as the guardian of international economic and financial stability, is monitoring developments very closely, she said, adding that the IMF is assessing and quantifying regional and global economic ramifications.
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