Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva warned that the Iran war has triggered a large global economic shock, disrupting energy supplies and pushing up prices worldwide, with the impact expected to linger well into next year. In a recent interview, the head of the IMF said that the scale and duration of the disruption would determine the long-term fallout, but cautioned that the effects are already widespread.

She said that 13 per cent of oil and 20 per cent of gas that would have flown in the world is now stuck for five weeks and counting. She further said that the impact is global and uneven, and it affects different countries differently. The IMF chief also cautioned that even a ceasefire would not bring immediate relief.