IMF warns Middle East conflict could slow growth in Africa

IMF warns that the Middle East conflict could slow growth in Africa by worsening energy and fertilizer disruptions for economies already exposed to higher import costs. On June 23 in Washington, IMF African Department Director Zeine Zeidane said the region is in a difficult period despite a ceasefire in place. He noted that Gulf energy producers may need six to seven months to restore output and exports to normal levels after recent disruptions. Zeidane warned prolonged problems could continue affecting countries dependent on imported fuel and fertilizers. The IMF said it has expanded support for African economies hit by elevated energy and fertilizer prices, and that technical assistance and additional financing are being sought by several governments. It is also considering new financing programs before the end of the year. Earlier, spokesperson Julie Kozack said support would broaden for The Gambia, Ethiopia, and Burkina Faso, while talks with Malawi are accelerating.