IMF Chief Says Saudi Attacks Could Have Negative Spillover 'Everywhere'
Kristalina Georgieva said the attacks could raise energy costs and worsen debt pressures as the IMF sees spillovers for everyone, everywhere.
- On Wednesday, IMF Managing Director Kristalina Georgieva warned that recent attacks on Saudi Arabia could impact people "everywhere," as conflict in the energy-rich region adds to wide-ranging economic concerns.
- A violent battle between a Saudi-led coalition and Yemen's Houthis has erupted, with missile strikes on energy facilities; Houthi strikes on Riyadh's international airport at the weekend left 13 people dead and crude prices soared after Iran shut the Strait of Hormuz.
- On Tuesday, the IMF raised its 2026 global growth forecast to 3.1 percent, though debt servicing costs have increased to 14% of government revenues today from around 6% a decade ago, prompting Georgieva to urge governments to "strengthen their fundamentals so they can withstand shocks."
- Georgieva called on governments to "make urgent repairs to the fiscal house before the cracks widen," admitting "there is no magic" to tackling bond yields and emphasizing that countries must tighten debt.
- Warning of excessive global economic imbalances, Georgieva stated, "To put it very simply, China needs to spend more, the US has to save more and Europe has to invest more," targeting low-income and vulnerable economies facing acute debt servicing challenges.
27 Articles
27 Articles
After the attack on Aramco in Saudi Arabia, the IMF warns against global economic consequences. Poorer countries hit it the most.
IMF Warns of Worldwide Fallout as Attacks on Saudi Arabia Escalate
Strikes on Saudi infrastructure by the Yemeni Houthis could affect the global economy, the managing director of the International Monetary Fund has warned. Speaking at a joint event with the World Bank in Thailand, Kristalina Georgieva said that despite this danger, Saudi Arabia remains resilient and has a better economic outlook than most of its neighbors thanks to its diversification efforts in recent years as it aimed to reduce the share of o…
IMF Chief: Attacks on Saudi Arabia could have ‘negative spillover everywhere’
The International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Wednesday that developments in Saudi Arabia potentially have 'negative spillovers for everybody everywhere.'
IMF Director General Cristalina Gorgeeva warned today, on Wednesday, of possible negative repercussions of Al-Houthi's attacks on Saudi Arabia on the global economy, amid concerns about the impact of rising tensions in the region on energy markets and oil supplies. France Press reported on Gorgeeva during a press conference on the margins of annual IMF and World Bank meetings [...]
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