Even if the Middle East conflict ends, its economic scars won’t

Even if the Middle East conflict ends, its economic scars won’t. The damage to global growth, inflation, and financial markets will persist long after hostilities cease, finance ministers from 11 countries warned. Renewed fighting or disruption to the Strait of Hormuz would deepen risks to energy security and supply chains, threatening broader economic stability. The joint statement, issued during the IMF and World Bank Spring Meetings in Washington, was signed by ministers from Britain, Australia, Japan, Sweden, the Netherlands, Finland, Spain, Norway, Ireland, Poland, and New Zealand. With government balance sheets already strained, they committed to fiscal restraint, directing support only to those most affected. They also pledged to resist protectionist measures—such as unjustified export controls or stockpiling—in hydrocarbon and other critical supply chains imperiled by the crisis.