IMF sees Gulf economies shrink in 2026 as Hormuz closure bites

IANS | October 13, 2026 9:42 AM

Washington, Oct 13 (IANS) The war in the Middle East and the closure of the Strait of Hormuz will push the Middle East and Central Asia region into contraction this year, with several Gulf oil producers facing double-digit declines, the International Monetary Fund said on Tuesday.