IMF worried about oil price rises

[Darranar]

The IMF has voiced strong concern at a Washington meeting about the dangers of rising oil prices to global prosperity.

Ministers said that what they see as volatility in the oil market had increased the risk of derailing the economic recovery in the world economy.

The IMF reckons that the world economy will grow at about 5% this year, the fastest for three decades.

But it sees problems ahead - higher oil prices act like a tax on spending and so jeopardise growth.

http://news.bbc.co.uk/1/hi/business/3710828.stm