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TOKYO: International Monetary Fund Managing Director Kristalina Georgieva on Monday warned of inflation risks from the Middle East conflict, saying a 10 percent increase in oil prices, if persistent through most of the year, would result in a 40-basis-point increase in global inflation.
“We are seeing resilience tested again by the new conflict in the Middle East,” Georgieva said, speaking in a symposium hosted by Japan’s finance ministry.
“My advice to policymakers in this new global environment is think of the unthinkable and prepare for it,” she said.