Australia joins calls for Iran ceasefire to be upheld
Finance ministers from Australia and around the world have made a joint appeal to preserve peace in the Middle East, warning of risks to the global economy if the shaky ceasefire collapses.
Finance Minister Jim Chalmers and his counterparts from 10 countries, including Britain, Japan, Sweden, the Netherlands and Finland, called on the United States, Israel and Iran to abide by the ceasefire agreement reached last week.
“The past weeks have led to unacceptable losses of life and serious disruptions to the global economy and financial markets,” the statement said.
“The ceasefire is of vital importance for protecting the security of the civilian population and the region,” he said.
The countries called for a rapid and lasting solution to the conflict and a return to free and safe passage through the Strait of Hormuz, which has remained closed since the US-Israeli attacks on Iran in February.
“Renewed hostilities, expansion of conflicts or ongoing disruptions in the Strait of Hormuz will pose serious additional risks to global energy security, supply chains and economic and financial stability,” the statement said.
It warns that the effects on growth, inflation and markets will continue after the conflict is resolved.
The declaration was also signed by the finance ministers of Spain, Norway, Ireland, Poland and New Zealand.
Governments also reiterated their commitment to “accelerate long-term energy diversification”, including the transition to clean energy.
“We welcome any steps countries can take to achieve these goals,” the statement said.
While the United States and Iran continue indirect talks to extend the two-week ceasefire beyond April 22, Pakistan’s army chief is in Tehran to continue mediation efforts.
Dr Chalmers is in Washington DC discussing the economic maelstrom with the International Monetary Fund and the World Bank.
The joint statement said it welcomes any coordination between these organizations and the International Energy Agency to develop “a joint assessment of global economic impacts.”
“We call on the IMF and the World Bank to offer a coordinated emergency support offer to countries in need, tailored to country conditions and leveraging the full scope and flexibility of the toolkits,” the statement said.
Dr Chalmers said it was unlikely the war would end soon enough as it was a “dangerous” time for the global economy.
“Australians are paying a heavy price for events on the other side of the world,” he said in a statement.
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