IMF’S GOURINCHAS: 10% OIL PRICE RISE WOULD DAMPEN 2024 GLOBAL OUTPUT, BOOST INFLATION BY ABOUT 0.4%
International Monetary Fund chief economist Pierre Gourinchas said on Tuesday, the “IMF research indicates a 10% increase in oil prices would weigh down on global output by about 0.2% in the following year, boost global inflation by about 0.4%.”
Additional takeaways
Inflation remains 'uncomfortably high,' bringing near-term expectations down is critical.
Multilateral cooperation can help reverse headwinds for the global economy; countries should aim to avoid geoeconomic fragmentation.
IMF is monitoring the situation in Israel, Gaza very carefully, too early to assess the economic impact.
We hope for a rapid de-escalation of Israeli-Palestinian conflicts and an end to the violence.
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