Houthis hit Riyadh airport twice as Saudi coalition promises responseTrump calls for new Ukrainian president as Kyiv and Europe push backUS disables blockade runner as Iran rejects Washington's Hormuz replyRights group blames Egypt for air strike that killed at least 72 miners in SudanDeath toll rises to 139 after migrant boat capsizes off DjiboutiUkrainian drones shut third Yandex data centre as Russian strikes kill civiliansKyiv reports Russian strike on energy site after Trump announces energy ceasefireIMF and World Bank meet in Bangkok as Iran-war energy shock weighs on growthPakistan suspends Khan's provincial government and declares emergencyHurricane Simon nears Mexico's Pacific coast as evacuations continueCourt frees Cockroach movement leaders after Delhi detentionsSenators from both parties challenge Trump's Russian diesel dealEuro-zone bond stress persists as French yields stay highPentagon updates official count of US service members killed in Iran warNorth Korea fires ballistic missiles toward the seaPoland investigates suspected plot against PM Tusk and defence ministerTour bus and truck collision kills 11 in western TurkeyEU to cap Chinese hybrid car imports at 350,000 a year under deal with BeijingChina rebukes Lai's speech and sanctions Paraguayan and Belizean ministersPope Leo XIV to undergo lung surgery this weekUS Justice Department opens antitrust probe into five TV networks over White House poolFlash flood in Nepal sweeps away homes and bridges, at least five missingFrance urges Abbas to reverse election delay as Palestinian factions plan Egypt talksIsaias leaves hundreds of thousands without power on US Gulf CoastAmazon in talks to buy AI video startup DecartNvidia reportedly weighs buying AI start-up Reflection AIMusk vows affordable Starlink in India as feud with Ambani escalatesHouthis hit Riyadh airport twice as Saudi coalition promises responseTrump calls for new Ukrainian president as Kyiv and Europe push backUS disables blockade runner as Iran rejects Washington's Hormuz replyRights group blames Egypt for air strike that killed at least 72 miners in SudanDeath toll rises to 139 after migrant boat capsizes off DjiboutiUkrainian drones shut third Yandex data centre as Russian strikes kill civiliansKyiv reports Russian strike on energy site after Trump announces energy ceasefireIMF and World Bank meet in Bangkok as Iran-war energy shock weighs on growthPakistan suspends Khan's provincial government and declares emergencyHurricane Simon nears Mexico's Pacific coast as evacuations continueCourt frees Cockroach movement leaders after Delhi detentionsSenators from both parties challenge Trump's Russian diesel dealEuro-zone bond stress persists as French yields stay highPentagon updates official count of US service members killed in Iran warNorth Korea fires ballistic missiles toward the seaPoland investigates suspected plot against PM Tusk and defence ministerTour bus and truck collision kills 11 in western TurkeyEU to cap Chinese hybrid car imports at 350,000 a year under deal with BeijingChina rebukes Lai's speech and sanctions Paraguayan and Belizean ministersPope Leo XIV to undergo lung surgery this weekUS Justice Department opens antitrust probe into five TV networks over White House poolFlash flood in Nepal sweeps away homes and bridges, at least five missingFrance urges Abbas to reverse election delay as Palestinian factions plan Egypt talksIsaias leaves hundreds of thousands without power on US Gulf CoastAmazon in talks to buy AI video startup DecartNvidia reportedly weighs buying AI start-up Reflection AIMusk vows affordable Starlink in India as feud with Ambani escalates
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Symbolic image: IMF and World Bank meet in Bangkok as Iran-war energy shock weighs on growthSymbolic image

IMF and World Bank meet in Bangkok as Iran-war energy shock weighs on growth

10 sources

The IMF and World Bank annual meetings opened in Bangkok on Monday, dominated by the energy shock from the war with Iran. Oil rose again and India's central bank moved to defend the rupee.

Finance officials and central bankers are meeting outside Washington for the first time in three years, with the US-Israeli war with Iran, now in its eighth month, setting the agenda. World Bank President Ajay Banga told Reuters that growth held up better than feared after Iran closed the Strait of Hormuz, but soaring diesel prices, fertilizer costs and a looming "super" El Niño now hit at once. The Bank is not revising its forecasts for now. IMF Managing Director Kristalina Georgieva warned "Winter is coming", and the Fund signals little change to its 3% global growth forecast for 2026. US Treasury Secretary Scott Bessent is absent and sends two senior officials, a US official said.

Oil and diesel supply

Nikkei Asia reports record prices for physical Brent. Industry executives say accessible stocks are running low after more than 1 billion barrels were released since the war began on 28 February. Trump announced a Russia deal on Friday for more diesel with a temporary sanctions waiver, which Zelenskiy criticised. Bloomberg headlines say oil rose on Monday after attacks on a Saudi airport and tankers.

Rupee defence

India's central bank opened a dollar window for state-run oil firms, and the FT says the rupee is near record lows. Bloomberg reports it strengthened offshore afterwards.

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