The global energy shock as a result of the conflict in the Middle East has led to oil and gas supply constraints and increased oil prices, which have triggered inflationary pressures and far-reaching fiscal and balance of payment downsides for many countries across the globe. At the microeconomic level, business operations, transport costs and household spending have been severely impacted. Emerging markets will be burdened with increased risks of “currency depreciation, increased import bills, and tighter external financing.” Twenty-one millio
The global energy shock as a result of the conflict in the Middle East has led to oil and gas supply constraints and increased oil prices, which have triggered inflationary pressures and far-reaching fiscal and balance of payment downsides for many countries across the globe. At the microeconomic level, business operations, transport costs and household spending have been severely impacted. Emerging markets will be burdened with increased risks of “currency depreciation, increased import bills, and tighter external financing.” Twenty-one millio
