Africa’s Top Bank Warns of Iran War Growth Impact

Africa’s top bank warns of Iran war growth impact

War in the Middle East could cost Africa as much as 1.5 percentage points of growth this year, the African Development Bank said. A scenario in which the conflict stretched for six months would hurt the continent’s already fragile prospects and expose fiscal constraints on economies struggling to fund basic services, it warned.Now in its second month, the Israel-US war against Iran is deepening pressures on African economies, from mounting debt-…

Africa's growth risks tilted to downside even before Iran conflict: AfDB

The African Development Bank said Monday Africa's economic growth outlook were skewed to the downside even before the Iran conflict began as regional instability and global pressures cast a shadow over the continent.