IMF chief Kristalina Georgieva warns high energy prices to persist until 2027 due to Iran war and supply constraints

The International Monetary Fund (IMF) has warned that energy prices will remain extremely high for years due to the Iran war and other factors. IMF Managing Director Kristalina Georgieva stated that even if the conflict ends soon, expensive energy will persist until 2027. She cited rising demand in the Northern Hemisphere winter and countries replenishing reserves as reasons for continued price pressure. The IMF also noted that OPEC+ production cuts, Middle East tensions, and sanctions on Russia, Iran, and Venezuela are driving oil prices up. Georgieva advised countries to adopt stricter monetary policies and criticized the lack of fiscal consolidation in highly indebted industrialized nations.