The International Monetary Fund (IMF) has reaffirmed its commitment to helping African economies cope with the economic impact of the ongoing conflict in the Middle East, warning that the effects could continue for several months despite the recent ceasefire.
Speaking during a media briefing, Zeine Zeidane, the newly appointed Director of the IMF’s African Department, said his immediate priority is to help sub-Saharan African countries manage the latest external shock and protect their economic recovery.
Zeidane, who assumed office on May 1, oversees the IMF’s engagement with 45 African countries. He said disruptions to trade, energy supplies, and fertilizer exports from the Middle East are creating new challenges for many economies across the continent.
The IMF has already reached staff-level agreements to provide additional financial support to Burkina Faso, The Gambia, and São Tomé and Príncipe, helping them respond to the economic impact of the crisis.
For Ethiopia, which is already implementing a major IMF-supported economic reform program, the Fund has accelerated approximately $200 million in financing to strengthen the country’s financial position during the period of uncertainty.
Zeidane noted that while a ceasefire is now in place, Gulf producers have indicated it could take six to seven months before production and exports return to normal levels. This delay could continue to affect global fertilizer supplies, increase food production costs, and place additional pressure on African economies that depend heavily on agricultural imports.
Despite the short-term challenges, the IMF remains optimistic about Africa’s long-term outlook.
Zeidane said sub-Saharan Africa was among the world’s fastest-growing regions before the latest crisis and has made significant progress in improving public finances and strengthening economic reforms.
He described Africa as a future driver of global economic growth, stressing that continued investment and international support will be essential to unlock the continent’s full economic potential.
As governments across Africa navigate rising costs and global uncertainty, the IMF says it remains committed to working closely with member countries to maintain stability, strengthen resilience, and support sustainable economic growth.