The International Monetary Fund (IMF) has indicated that the restoration of energy supplies will require time, despite announcements from the U.S. and Iran regarding an agreement to reopen the Strait of Hormuz. Consequently, the organization remains "highly vigilant" regarding the impact of the Middle East conflict on the global economy.

In a blog post published on Monday, IMF Managing Director Kristalina Georgieva wrote, "The global economy has so far weathered the shocks, which is reassuring. But we cannot be complacent." She noted that "commodity prices, inflation and inflation expectations, and financial conditions have all been affected," but "have not yet reached a level indicating a global economic slowdown."

This follows the war that began over three months ago after a joint U.S. and Israeli strike on Iran. The U.S. and Iran have stated they reached a provisional peace agreement to reopen the Strait of Hormuz, though the full details of the accord remain unclear.

Georgieva stated that, for the global economy, the impact of energy shortages over recent months has been cushioned by technological progress. She specifically highlighted the role of investments in artificial intelligence and data centers.

She wrote, "The United States is benefiting from this global technology cycle, and some Asian economies are also benefiting from stronger tech exports." However, she added, "most countries are not yet feeling the impact of technology on productivity and growth, raising concerns about further economic divergence."