Jayati Ghosh argues that today’s market optimism masks a slow-moving crisis that will hit poorer countries hardest.
en English
Economics
Jul 15, 2026
Jayati Ghosh
Buoyed by AI stocks, global financial markets have largely shrugged off the war with Iran. Yet the conflict’s long-term economic costs are only beginning to emerge, as depleted strategic oil reserves, damaged refining capacity, and rising fuel and fertilizer costs increasingly weigh on lower-income economies.
Oil and gas price hikes due to the war have rattled the global economy.
The longer the Iran war lasts and the more damaging its economic fallout, the better off the global economy may be in the long…
With oil prices soaring and stock markets falling, economists warn that a prolonged conflict in the Middle East risks knocking…
The war is pushing up energy prices and rattling markets, which central banks can't neutralize with an interest-rate tweak.
NY Times: The world economy is weakening as energy prices fuel a new bout of inflation.
Our podcast on markets, the economy and business. This week, the situation long feared by oil-watchers has become a reality
