IMF downgrades Middle East and Central Asia outlook as war fallout and Hormuz disruption hit growth
The International Monetary Fund has sharply downgraded its outlook for the Middle East and Central Asia, saying the region's economy is now set to contract in 2026. The revision comes amid the fallout from the US-Israel war on Iran and prolonged disruption to shipping in the Strait of Hormuz. The IMF said the region's gross domestic product is forecast to shrink by 0.3% this year, reversing an April projection of 1.9% growth.The fund said the shipping disruption in the Strait of Hormuz was a key factor behind the weaker forecast. The waterway is a major route for global energy flows... [Continue Reading]
360LiveNews | 13 Oct 2026 07:30 LONDON
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Has Russia's fuel crisis given Iranian oil an opening in Central Asia?
Iran's oil exports have struggled under a US blockade, but a Russian fuel crisis caused by Ukrainian attacks on energy infrastructure may be creating a new opening in Central Asia. Countries in the region have begun buying oil from Iran as Russian fuel supplies they have long depended on run short. The shift is emerging as Moscow faces mounting pressure from drone strikes on refineries linked to its war in Ukraine.In August, Tajikistan said it was receiving oil and petroleum products from Iran as Dushanbe faced uncertainty over supplies from Russia. Also in August, Tehran agreed to establish a joint... [Continue Reading]
360LiveNews | 07 Oct 2026 08:02 LONDON
