IMF warns Iran war fallout is creating a difficult moment for Africa

By the Editorial Team · Tuesday, June 23, 2026

The International Monetary Fund’s Africa director, Zeine Zeidane, warned that the economic fallout from the conflict in Iran is severely impacting African countries due to disrupted energy supplies and rising costs. In response, the IMF is accelerating financial support and technical assistance to several African nations, with more aid requests expected as the continent grapples with ongoing challenges.

The International Monetary Fund’s Africa director has highlighted the significant economic challenges facing the continent as a result of disruptions caused by the conflict in Iran. Speaking at the IMF headquarters in Washington on Tuesday, Zeine Zeidane described the situation as a “difficult moment” for Africa, noting that the effects of the Middle East war continue to reverberate despite the ceasefire.

Zeidane, who formerly served as the IMF’s deputy director for the Middle East and Central Asia, explained that restoring energy production in Gulf countries will take several months. “Most of them will tell you that you’ll take six, seven months before going to full resumption of production and export,” he said, emphasizing the prolonged timeframe necessary to normalize supply.

The conflict’s impact has contributed to elevated prices for energy and fertilizer, which have in turn affected African economies. While Zeidane acknowledged that ongoing government reform programs in sub-Saharan Africa have helped bolster resilience against these shocks, he noted a rising demand across the region for IMF support. Several countries have sought technical advice or financial assistance in response to the crisis.

Earlier this month, the IMF confirmed its intention to expedite access to funds for Ethiopia, The Gambia, and Burkina Faso amid growing economic pressures. Discussions are also advancing rapidly between the Fund and Malawi regarding a potential new financial assistance agreement. Additionally, the IMF announced a staff-level agreement with Sao Tome and Principe on the third review of the island nation’s existing $25 million program. Pending board approval, this would allow a disbursement of approximately $6.1 million.

Zeidane cautioned that further requests for funding adjustments or new programs might emerge before the end of the year as the continent continues to navigate the fallout of the Middle East conflict and its ripple effects on energy and food security.

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