BANGKOK, Oct 7 — High energy prices resulting from the Iran war are likely to persist for some time, International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned today, reported German news agency dpa.
“Price pressures may build further as demand rises with the approach of the Northern hemisphere cold season and as countries replenish reserves,” Georgieva said in prepared remarks for a speech in Singapore ahead of the annual meetings of the IMF and World Bank.
Even if the conflict ends soon, high energy prices are likely to persist for some time, she said, adding that Brent futures, for example, now predict high oil prices through 2027.
The annual meetings are due to begin next week in Bangkok.
