The IMF says the global economy is tanking again, thanks to the war with Iran
Just when everyone thought it was safe to open their wallets again, the world economy is taking another nose dive because we apparently can't have nice things.
Remember when we thought we survived a global pandemic and were finally figuring things out? Well, the IMF just dropped their latest forecast, and it is a certified bummer. They are slashing global growth projections because the war with Iran is absolutely wrecking energy markets and driving inflation back up.
There was this tiny sliver of hope when the US and Iran signed a preliminary peace deal, but that lasted about as long as a New Year's resolution. Iran went right back to attacking ships in the Strait of Hormuz, and now Donald Trump is over at a NATO meeting in Turkey basically saying the ceasefire is dead.
Meanwhile, the UK is somehow the only country celebrating because their outlook actually went up a tiny bit, while the rest of the G7 nations are just sitting there watching the economic ship burn.
It takes a special kind of global coordination to make a peace treaty look like a minor scheduling misunderstanding.
Source: The New York Times
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