US strikes on Iran could damage global growth, says IMF chief

Oil prices could rise if Iran goes ahead with threat to shut down shipping in the strait of Hormuz.

US strikes on Iran could damage global economic growth, the head of the International Monetary Fund has warned. Director Kristalina Georgieva told Bloomberg TV that the IMF was watching energy prices closely, warning a rise in oil prices could have a ripple effect throughout the global economy. “There could be secondary and tertiary impacts,” she said. “Let’s say there is more turbulence that goes into hitting growth prospects in large economies – then you have a trigger impact of downward revisions in prospects for global growth.” The Iranian parliament voted to shut down the vital shipping channel through the strait of Hormuz over the weekend, in a retaliation against Donald Trump’s attack on the country. A fifth of the world’s oil consumption flows through Hormuz, which links the Persian Gulf to the Gulf of Oman and the Arabian Sea beyond.

https://www.theguardian.com/business/2025/jun/23/us-strikes-on-iran-global-growth-imf-oil-prices-strait-of-hormuz

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