Africa Business World

US-Iran War Economic Fallout

US-Iran War Economic Fallout

In countries like Somalia and Malawi, the surge in transportation and agricultural costs has left millions of households struggling to survive.

The IMF has downgraded global growth forecasts and is preparing emergency aid packages as the conflict's 'scar' on the global economy deepens.

Even if the current ceasefire holds, analysts say the weaponization of the Strait of Hormuz has created a permanent shift in how global energy markets operate.

Leaders in affected nations are now scrambling to find alternate energy sources to mitigate the impact of future supply shocks.