IMF boss warns oil investment needed to stave off inflation

The head of the International Monetary Fund says global economy has shown “very strong resilience” in the face of higher oil prices, but further investment in energy infrastructure and greater market transparency are needed to stave off inflation.

Speaking in Calgary Friday at a conference on global trade balances and risks, IMF managing director Rodrigo de Rato said high oil prices posed a very important risk to the world economy, predicting that “relative to three years ago, high oil prices are here to stay.”
CBC News