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Finance ministers and central bank governors across Africa are racing to secure funding from international financial institutions as the widening impact of the US–Iran conflict threatens to reverse the region's recent economic stabilization gains. On the margins of the IMF-WB Spring Meetings, policymakers say a combination of external shocks—from higher energy prices to supply-chain disruptions—are weakening Africa's growth outlook. After growing about 4.5% in 2025, the regional economy is forecast to slow to around 4.2–4.3% in 2026. The conflict in the Middle East is pushing fuel and fertilizer prices higher, fueling inflation, reducing food security, and increasing social pressures as international aid tends to shrink. IMF warns risks remain skewed to the downside due to global uncertainty and domestic vulnerabilities. According to Seedy Keita, the Gambian Finance Minister and chair of IMF's Africa Group, the conflict has significantly increased the degree of complexity, potentially causing long-term effects such as high inflation, food shortages, and social unrest. Under growing financial pressure, many countries have sought urgent support. The Democratic Republic of Congo has requested a new IMF program, Angola is moving forward with a 165 million USD budget-support loan from the African Development Bank, while Kenya is seeking rapid support from the World Bank to address fuel shortages and inflation risks. With conflict showing no signs of abating, Africa policymakers face a difficult equation: to control inflation, protect the vulnerable, sustain growth, and increasingly rely on external financing to navigate a period of uncertainty.
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