World Bank Warns of Prolonged Economic Disruption Despite Hormuz Strait Reopening
World Bank President Ajay Banga warned that countries affected by the Iran war should prepare for months of economic disruption, even if the Strait of Hormuz reopens. The World Bank is preparing a 'war chest' of up to $100 billion in funding over the next 15 months to support affected nations. The bank also advised clients to prioritize controlling inflation over growth in the short term.
Topics: economic disruption funding support inflation Iran conflict Strait of Hormuz World Bank