Can Asian economies cope with the fallout from the Iran war?
The story
Fuel costs, inflation and debt pressures are testing Asian economies.
From the source
play video Video Duration 02 minutes 08 seconds play-arrow 02:08 Fuel costs, inflation and debt pressures are testing Asian economies.
Working from home. Fuel queues. Blackouts. This is the fallout from the war on Iran across Asia. Governments are scrambling to shield their economies from the worst of the energy crisis. Some are rationing fuel. Others are reintroducing subsidies or limiting exports altogether. And the longer the Strait of Hormuz remains disrupted, the worse it gets – so much so for vulnerable economies.
Rising oil prices are driving up import bills — just as remittances fall and currencies weaken. Dollar-priced fuel, food, fertiliser and debt all have become more expensive, forcing governments to burn through reserves, borrow more or cut elsewhere.
Who and what
Key names and topics in this story: Asian, Iran.
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