WASHINGTON, April 14. /TASS/. The US and Israeli military operation against Iran can entail a large-scale economic crisis, said Pierre-Olivier Gourinchas, the Economic Counsellor with the International Monetary Fund (IMF).
"The closure of the Strait of Hormuz and serious damage to critical production facilities in a region central to global hydrocarbon supply could cause an energy crisis on an unprecedented scale," Gourinchas said in the foreword to the IMF report on global economic prospects released in Washington.
"The world economy faces yet another difficult challenge. And while it may well become more multipolar, it does not need to become more fragmented. Beyond actions that countries can take on their own, we should continue to seek ways to improve global cooperation," the IMF official stressed.
"With the right policies, including a swift cessation of hostilities and the reopening of the Strait of Hormuz, the damage could remain limited," he added.