IMF Chief: Iran War Hurts Global Economy

0:00The Iran war is throwing a wrench into the global economy, according to the head of the international monetary fund. Even with a shaky ceasefire in place, they're set to slash their growth forecast next week. IMF boss Kristalina Georgieva says without this mess, they'd actually be bumping up the numbers. Earlier this year, the world economy shrugged off those big import taxes from President Trump. Back in January, the IMF raised the outlook to 3.3 percent growth and was ready to do it again. But the fighting kicked off on February 28, spiking oil and gas prices while wrecking refineries, tankers, and fertilizers supplies that, farmers need. The United States and Iran called a truce on Tuesday after Trump's stark warning. Still, businesses and everyday folks are losing confidence and growth look slower no matter what. Sub-Saharan Africa and those small island nations are getting hit hardest by the energy crunch. Governments are strapped because debts are sky high, so they can't just pump in cash or cut taxes easily. Some are

1:03pushing work from home setups, more public transit rides, and curbing official travel to ease the pain. Georgieva's urging leaders to play smart ahead of next weeks, IMF and World Bank meetings, avoid solo moves like export bands or pricecafs that could. Make it all worse. The road to recovery stays bumpy from here. That wraps Canada News today brought to you with AI, on Cori with the story.