IMF ‘to warn over energy prices’

The International Monetary Fund will warn that high energy prices are “exacerbating” global economic imbalances, it was reported today.

A leaked draft of the IMF’s World Economic Outlook, to be published next week, will say high prices are increasing the risk of a crisis, the Spanish newspaper Expansion reported.

“Global economic imbalances are likely to remain at elevated levels for longer than would otherwise have been the case, heightening the risk of sudden disorderly adjustment,” the document says.

..Earlier this week, Rodrigo de Rato, the head of the IMF, warned that the world’s leading countries must address the economy’s “shaky foundation” or face a global financial crisis made worse by surpluses in Asia and the Opec countries.

Guardian