The US and Iran appeared still willing to reach a peace deal despite American strikes and Tehran’s threats of reprisals — but the global economic fallout from the conflict deepened.
Bangladesh pressed the IMF for new financial support, while the African Development Bank forecast slowing growth across the continent this year as a result of higher fuel prices, supply chain struggles, and worsening global financial conditions.
Asian countries, meanwhile, are grappling with plummeting currencies that have depleted central banks’ foreign exchange reserves and threatened to accelerate already-high inflation. And in Latin America, two Atlantic Council experts projected slower growth and accelerating price rises. Things could yet worsen: “Downside risks to the outlook remain significant,” the AfDB warned.