The International Monetary Fund (IMF) has said it anticipates up to $50 billion in emergency financing may be needed for countries hit by balance-of-payments shocks, as food insecurity threatens 45 million people globally.
The projection comes as more than 1,000 delegates from 190 countries will be arriving in Washington for the World Bank and IMF Spring Meetings 2026 from Monday, April 13th, 2026.
This year’s spring meeting is themed “Anchoring Stability and Promoting Balanced Growth”, coming amidst new headwind: the economic fallout from the Middle East war.
US President Donald Trump ordered the US Navy on Sunday to block key Gulf sea lane, the Strait of Hormuz, furious with Iran’s refusal to surrender its nuclear ambitions after peace talks broke down without agreement.
In response, Iran’s Revolutionary Guards warned they have traffic in the strategic waterway under full control and would trap any enemy who try to challenge it “in a deadly vortex in the Strait if it makes the wrong move”.
In a lengthy declaration on his social media platform, Trump said that his eventual goal was to clear the strait of mines and reopen it to all shipping, but that in the meantime, Iran must not be allowed to profit from its control of the waterway.
“Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz,” Trump said. “Any Iranian who fires at us, or at peaceful vessels, will be BLOWN TO HELL!”
The Managing Director of the IMF, Kristalina Georgieva, had warned that the Fund would cut global growth projections when the meetings commence from April 13th.
The IMF boss cited “scarring effects from spiralling energy costs, supply disruptions, and damaged infrastructure.”
READ ALSO: US Military To Begin Blockade Of Iranian Ports On Monday
Just three days ago, the Nigerian Economic Summit Group projected a 5.5% GDP growth for 2026, reserves at a seven-year high of $52 billion, and inflation coming to 16%.
Iran has itself been restricting traffic through the strait — a key route for shipments of oil, gas, and fertiliser from the Gulf to the world market — while allowing vessels deemed to be working for friendly countries, such as China, to pass. There have been unconfirmed reports that Tehran plans to charge tolls.
“THIS IS WORLD EXTORTION,” Trump said. “I have also instructed our Navy to seek and interdict every vessel in International Waters that has paid a toll to Iran. No one who pays an illegal toll will have safe passage on the high seas. We will also begin destroying the mines the Iranians laid in the Straits.”
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