Washington, April 14 -- The shock from the Iran war is now rippling through the global economy, with the International Monetary Fund warning that momentum has stalled and the risk of a stagflation-style slowdown is rising.
In its latest World Economic Outlook, the IMF said what had been shaping up as a strong year, one bolstered by tech investment, easing trade tensions and stable financial markets, has now been greatly derailed by the West Asian conflict.
"War in the Middle East will overwhelm these underlying forces," the report notes.
Chief economist Pierre-Olivier Gourinchas putting it more bluntly, said the war has effectively "halted" global economic momentum, placing energy disruption at the core.
The closure of the Strait of Hor...