Damage to the world economy has already begun: IMF

The International Monetary Fund (IMF) has warned at its Spring Meetings in Washington that the escalating conflict involving Iran and Israel is already weighing heavily on the global economy.

According to the IMF's forecast, even if the conflict were to stabilize now, global growth is expected to slow down. However, if the war persists, global growth could plummet to 2% this year, with inflation potentially surging past 6% in 2026.

The organization highlighted that developing nations will feel this impact most severely, facing nearly double the economic pressure compared to the United States, while Middle Eastern oil producers are also at risk of significant losses due to supply chain disruptions.