IMF: Grim Forecasts for Global Economy Due to War

The head of the International Monetary Fund (IMF), Kristalina Georgieva, warned of significantly worse impacts on the global economy if the war continues until 2027 and oil prices remain at $125 a barrel.

The IMF's previous forecast of slower growth and a slight increase in prices is no longer valid, according to Georgieva.

Meanwhile, the New York Stock Exchange closed with losses amid concerns about escalating hostilities in the Middle East.