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Opinion: With uncertainty rampant, exercise policy caution, IMF urges

Deficits and debts are dangerously high almost everywhere. Any fiscal relief for higher prices needs to be focused, modest and temporary

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In its latest World Economic Outlook, the IMF says the Iran-Israel-U.S. war is a “shock which is global yet asymmetric” where “all roads lead to higher prices and slower growth.”

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They get there via the Strait of Hormuz, through which flows a quarter of the world’s oil and a fifth of its LNG — but also; almost half its urea (a nitrogen fertilizer); almost a third of its helium (a key input to semiconductors); nearly half........

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