IMF, World Bank and IEA leaders say they will continue to work together to respond to world’s greatest energy shock ever
Importance
Level 1
- Birol says assessing the situation regarding need for further release of reserves, and ready to act immediately if needed.
- Birol says April energy impact of war may be worse than March, notes no Country will remain unscathed.
- Birol says some countries are adding stocks to their existing reserves and adding export restrictions, which is not comforting markets.
- IMF chief says continued closure of strait of Hormuz for prolonged period will result in more severe impact on growth and inflation.