‘It’s a twilight zone’: Iran war casts deep shadows over IMF gathering in Washington

The mood at the IMF-World Bank meetings in Washington DC is described as ‘sombre’ because of the Iran war. Photograph: Bryan Dozier/NurPhoto/Shutterstock

The most severe energy shock since the 1970s, the risk of a global recession and households everywhere stomaching a renewed surge in the cost of living – hitting the most vulnerable hardest.

In a sweltering hot Washington DC this week, the message at the International Monetary Fund meetings was chilling: things had been looking up for living standards around the world. But then came the Iran war.