The South Asian nation is one of the largest debtors to the IMF after Argentina and Ukraine

Here are the latest economic events in the Middle East war

Oil prices climbed, with the Brent international benchmark rising 4.2 percent to $112.57

China’s Cosco Shipping Lines may not have intended to send a geopolitical message.

Here are the latest economic events in the Middle East war:

European Union lawmakers on Thursday gave a green light -- with conditions -- to the bloc’s tariff deal with US President Donald Trump, which Europe hopes to salvage while also racing to diversify its trade ties around the globe.

The escalating conflict in the Middle East has knocked the ‌global economy off a stronger growth path, the OECD warned on Thursday, as a near-halt in energy shipments through the Strait of Hormuz threatens to push inflation sharply higher.

India has secured crude oil supplies for the next 60 days, ensuring stable fuel supplies in the country despite disruption ​in shipments from the Middle East, the oil ministry said in ‌a statement on Thursday.

For all the hand-wringing in financial markets about an artificial intelligence bubble, investors may be focusing on the wrong risk.

Disruptions to oil and petrochemical flows through the Strait of Hormuz following the outbreak of the Iran war have tightened global ​chemicals supply and lifted prices of plastics and polymer, used in everything from auto parts to toys, to roughly four-year highs.

Around a fifth of global crude oil and liquefied natural gas passes through the waterway in peacetime

Oil prices rose and equities were mixed Thursday as investors tracked mixed developments in the war

Trump on Wednesday threatened to "unleash hell" if Iran did not strike a deal,

The Iran war is already taking a toll on major economies around the world, according to business surveys on Tuesday which showed how a ​surge in energy prices and rising uncertainty were dampening activity and pushing inflation expectations higher.

German business morale fell in March as the war in the Middle East puts hopes of a recovery in Europe’s struggling top economy “on ice”, a key survey showed Wednesday.

The European Central Bank has several options for dealing with the Middle East war energy shock, its chief Christine Lagarde said Wednesday, vowing policymakers would not be “paralysed by hesitation”.

Britain’s annual inflation rate was unchanged at 3.0 percent in February, official data showed Wednesday ahead of an expected jump as the Middle East war has sent oil prices surging.

The head of the International Energy Agency (IEA) said Wednesday that he was “ready” to approve the release of more oil reserves if needed to cushion the impact of the Middle East war on global supplies.

Currency markets took a breather on Wednesday, with traders cautious over US President Donald Trump’s efforts to bring an end to the war with Iran.

The Western allies trying to negotiate a way to protect the Strait of Hormuz for energy shipping face a stark reality: a similar effort in the Red Sea that started years earlier cost billions of dollars and ultimately failed against Yemen’s Houthis.