US Treasury Secretary said a "small bit of economic pain" was worth it to eliminate the threat of Iranian strikes on Western capitals.
The financial body cuts its growth forecast for the UK and warns the war threatens to throw the global economy "off course".
The BBC’s Michelle Fleury explains why oil, inflation and interest rates are key risks as the IMF warns war and soaring energy prices could hit the global economy.
Trade tensions and a reversal in the AI boom are among the main risks to global economic growth, the IMF says.
Steady inflation and lower bond yields gives Rachel Reeves an opportunity, but will she take it?
Rachel Reeves made the comments about the 2020 deal at a key meeting of the world's leading finance ministers and central bankers.
After five days talking to ministers, bankers and trade negotiators at the IMF, the BBC's Faisal Islam assesses the global outlook.
But the UK is also predicted to suffer the highest rate of inflation in the G7 both this year and next.
The move comes after the IMF suggested the change would reduce pressure for "overly-frequent changes to policy".
