IMF warns of oil price threat

The International Monetary Fund has warned that high oil prices are a significant threat to global prosperity.

In a report due to be delivered to its annual meeting in Prague, September 2000, the IMF says the tripling of crude oil prices since early 1999 could cause a recession. The report comes as protests over high fuel prices spread to Israel, and continue to cause chaos in several European countries.

• Primary Source

http://www.imf.org/external/am/2000/prague.htm http://www.imf.org/external/am/2000/prague.htm

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