POLITICS
‘All hands on deck’: Urgent fuel talks as war jolts economy
Jim Chalmers says the government has all hands on deck as it seeks to secure Australia’s fuel supplies amid the global oil crisis arising from the war in the Middle East.
The Treasurer flew to Washington DC on Wednesday morning for talks with counterparts from key countries that supply fuel to Australia, as well as the International Monetary Fund and World Bank.
The IMF issued a warning overnight about the looming risk of a global recession and urged the government to avoid cost-of-living relief measures that could fuel inflation in its Budget next month.
Dr Chalmers will meet ministers from Singapore, Japan, Korea, Indonesia and the UK, while Prime Minister Anthony Albanese and Foreign Minister Penny Wong are holding talks with leaders from Brunei and Malaysia.