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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.”