economy
World Bank President: Prepare for Months of Disruption, Even After Hormuz Strait Reopens
It will take "a few months for things to come back" once the Strait of Hormuz is no longer effectively closed, Banga said.
TL;DR
- Countries impacted by the Iran war should anticipate several months of disruptions, even with a ceasefire and reopened Strait of Hormuz.
- The World Bank has a 'war chest' plan to provide financial aid, with immediate access to $20-25 billion and potential increases up to $100 billion over 15 months.
- Affected nations are advised to focus on controlling inflation before addressing economic growth.
- The World Bank provided $70 billion during the Covid-19 pandemic.