Finance ministers and central bank governors will soon descend on Washington DC for the International Monetary Fund-World Bank spring meetings, seeking to navigate their way through the shoals of a topsy-turvy global outlook. The Iran war’s ceasefire provides a respite, but all will be in suspense on what happens next – even US Treasury Secretary Scott Bessent. That answer may depend on the mood swings of one person searching for an off-ramp but needing to save face amid a harsh 10-point proposal for negotiations from Iran. All recognise that long-term disruption of the Strait of Hormuz could prove disastrous for the ... (full story)