The International Monetary Fund cut its growth outlook on Tuesday due to Middle East war-driven energy price spikes but said the world was already drifting toward a more adverse scenario with much-weaker growth as Strait of Hormuz shipping disruptions continue.
With massive uncertainty over the Middle East conflict gripping finance officials gathered for IMF and World Bank spring meetings in Washington, the IMF presented three growth scenarios: weaker, worse and severe, depending on how the war unfolds.
Source : Reuters.com