IMF Warns of Global Recession

In its latest World Economic Outlook, the IMF reported that the Iran war has abruptly darkened the global economic landscape, leading to significant downgrades for major economies.

The United Kingdom is projected to be the hardest hit among G7 nations, with its growth forecast cut to just 0.8 percent due to extreme exposure to energy price volatility.

The report outlines a worst-case scenario where global growth could plunge to 2 percent if oil prices remain consistently above $100 per barrel.

Policymakers are being urged to avoid energy hoarding as surging costs for fuel and fertilizer threaten to push millions into poverty.