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“The International Monetary Fund (IMF) warned on Tuesday that while low-income developing countries were dealing with the disproportionate impacts of the Iran war-fuelled energy shock, many had “no choice” but to cut spending or potentially face debt…”

“The IMF has called on countries to offer narrow, targeted subsidies in the wake of the crisis, while also recommending all governments work to rebuild fiscal buffers and address rising debt after years of fighting economic shocks since the pandemic.”

“The IMF cut its 2026 growth forecasts across the Gulf and now expects the Middle East and North Africa to be the only region in the world to shrink this year.”

“Meanwhile, the influential OECD has downgraded forecasts for UK GDP next year, pointing to the impact of the Middle East crisis.”

“UK economic growth is now expected to slow next year in a blow to Andy Burnham’s ambitions despite a stronger-than-expected performance in 2026 in the face of the Middle East conflict, according to new forecasts.”

“- Published The world's advanced economies including the UK and US need to cut borrowing and reduce debt levels following weeks of spiralling government interest costs, the head of the International Monetary Fund (IMF) has warned.”

“The International Monetary Fund (IMF) cut its 2026 global growth forecast by 0.3 percentage points, but the reductions were much larger for the Gulf states.”