‘Dangerous time’: Jim Chalmers to push for end to Middle East conflict at global talks
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The news: Treasurer Jim Chalmers will push for an “enduring ceasefire” and the end of conflict in the Middle East during talks with international counterparts as part of G20, IMF and World Bank meetings in the US.
“The IMF’s World Economic Outlook shows it’s a dangerous moment for the global economy,” Chalmers in a statement ahead of the travel.
“The world is expecting slower growth, higher inflation, and extreme volatility arising out of the conflict in the Middle East and we are too.
“We’re weighing all of this extreme uncertainty as we prepare a budget focused on resilience and reform.”
The context: Chalmers is due to speak to international counterparts at the G20 Finance Ministers’ and Central Bank Governors’ meeting in the US this week and the IMF-World Bank 2026 Spring Meetings in Washington.
Chalmers is scheduled to attend formal G20 group engagements, chaired by US Treasury Secretary Scott Bessent and hold informal meetings with economic ministers and global central bank governors.
He will also meet with Korea’s Deputy Prime Minister and Minister of Economy and Finance Koo Yun-Cheol, Japan’s Finance Minister Satsuki Katayama, China’s Finance Minister Lan Fo’an, UK Chancellor of the Exchequer Rachel Reeves, Indonesia’s Finance Minister Purbaya Yudhi Sadewa and Singapore’s second Minister for Finance and National Development Indranee Rajah.
Chalmers is set to depart Australia on Wednesday, with a media statement distributed ahead of the trip noting that his day spent in Washington will include joining other countries to call for an “enduring end to the war”.
The Treasurer said he will aim to work with key partners to help secure Australian fuel supplies, strengthen partnerships and supply chains and promote Australia as an investment destination.
Chalmers said the federal government would be “calibrating our budget forecasts with expectations, forecasts and developments in the world economy”.
Earlier on Tuesday, Reserve Bank of Australia deputy governor Andrew Hauser warned of a “big, real income shock” in Australia from the fuel crisis.
What they said: “I’ll continue Australia’s calls for an enduring ceasefire, an end to the conflict in the Middle East and the proper reopening of the Strait of Hormuz because that’s what the global economy desperately needs,” Chalmers said in the media statement.
“From an economic perspective, a proper end to this war can’t come soon enough,” he said.
“Australians are paying a hefty price for events on the other side of the world. These engagements come at a dangerous time for the global economy.”
He said the costs of the US-Iran conflict would be “felt for some time” in Australia and globally.
The source: Treasurer media release
