IMF Warns of Global Recession

The International Monetary Fund's April outlook has abruptly darkened, with global growth now projected to slow to 3.1 percent this year.

The report highlights the severe impact of the Middle East conflict on energy infrastructure and the resulting inflationary pressures on the G7 nations.

IMF Chief Economist Pierre-Olivier Gourinchas noted that Britain is expected to suffer the hardest economic shock among major economies.

If the Strait of Hormuz remains blocked, the fund warns that central banks will struggle to contain rising costs without stifling growth.