The International Monetary Fund warned that El Nino could weaken commodity markets, drive up food and broader commodity prices, and disrupt sectors including transportation. The IMF said the impact could be particularly pronounced for energy-importing economies, with emerging markets that have limited fiscal space facing heavier pressure. According to the note cited by ChainCatcher, those countries may see wider current account deficits and increased strain on their exchange rates. The warning points to the macroeconomic risks tied to weather-related shocks, especially where external balances are already vulnerable. No additional details were provided in the brief.
ChainCatcher reported that the International Monetary Fund (IMF) warned El Nino could hit commodity markets, drive food and other commodity prices higher, and disrupt industries such as transportation.
And the IMF said the blow would be especially heavy for energy-importing countries, especially emerging markets with limited fiscal space. Those countries could end up with wider current account deficits and more pressure on their exchange rates.
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