Full transcript: IMF's Kristalina Georgieva on "Face the Nation with Margaret Brennan"

Face The Nation Transcripts Full transcript: IMF chief Kristalina Georgieva on "Face the Nation with Margaret Brennan," April 12, 2026 .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-face-the-nation.jpg'); } April 12, 2026 / 11:18 AM EDT / CBS News Add CBS News on Google The following is the full transcript of an interview with Kristalina Georgieva, managing director of the International Monetary Fund, that aired on "Face the Nation with Margaret Brennan" on April 12, 2026.MARGARET BRENNAN: Director, thank you so much for making time for us. We're in an incredible moment right now. How do you calculate the economic shock from this Mideast war?INTERNATIONAL MONETARY FUND MANAGING DIRECTOR GEORGIEVA: We look at the size of the impact and the duration of impact. And what I can tell you is that this shock is large. Thirteen percent of oil, 20% of gas that would have flown in the world is now stuck for five weeks and counting. It is global. Everybody uses energy. Everybody feels the pinch of prices going up. And it is asymmetric. It affects different countries differently. If you are in the vicinity of the conflict, it's a big hit on you. If you are an oil importer, it is a big hit on you. If you have no reserves to protect yourself, you are in a very tough situation. We are running scenarios depending on the duration of the war. Now we have hopes for peace that would improve the conditions for everybody, but we are also looking at impact on infrastructure. A lot has been damaged, and it would take time to bring back to full operation.MARGARET BRENNAN: So let's pull that apart a little bit. It appears like Asia bore a lot of the economic impact here. South Korea, they've got a big computer chip industry. They have called on their citizens to conserve energy. India, they're rationing energy. The Philippines had a national energy emergency. The Australian gas stations are running out of fuel. It seems like there's a large part of the planet...