Finance ministers from 11 countries warn conflict could slow growth
Finance ministers from 11 countries are worried that the ongoing Middle East conflict could slow down global growth and push prices up.
At International Monetary Fund and World Bank meetings in Washington, they pointed out that energy supplies could be at risk, especially if problems continue in the Strait of Hormuz.
Even with a durable resolution of the conflict, these economic challenges might stick around.
Ministers urge prudent spending and cooperation
To tackle these issues, the ministers promised to spend wisely at home and help those hit hardest by tight budgets.
They also urged countries not to panic with trade barriers or stockpiling, since that could make supply chain problems worse.
Their main message: working together globally is key to keeping economies steady during tough times like this.