IMF Africa Chief Warns of Middle East Conflict Impact

The International Monetary Fund’s new Africa chief, Zeine Zeidane, has warned that the ongoing conflict in the Middle East is creating fresh economic challenges for countries in sub Saharan Africa. He however assured that the IMF remains committed to supporting nations under pressure and helping them manage the shocks.

Zeidane, who took over the IMF’s African Department in May, said his top priority is to help African countries weather the storm caused by disruptions in global trade, energy, and fertilizer supplies. He explained that the conflict has already led to higher costs and shortages that could persist for months, affecting food security and economic stability across the continent.

The IMF has already moved to provide additional financing support to some of the most vulnerable countries. Burkina Faso, The Gambia, and São Tomé and Príncipe have received new funding packages, while Ethiopia has been granted accelerated access to about 200 million dollars to help stabilize its economy. Zeidane said these measures are part of a broader effort to ensure that African nations can continue to meet urgent needs while preparing for long term growth.

He noted that Africa’s challenges are significant, but so are its opportunities. With a youthful population, abundant natural resources, and growing markets, the continent has the potential to become the world’s next major engine of growth. Unlocking this potential, he said, will require strong reforms, investment in infrastructure, and continued international support.

Zeidane also emphasized that the IMF is working closely with governments to design policies that balance immediate relief with sustainable development. He pointed out that while external shocks such as the Middle East conflict cannot be controlled, African countries can strengthen resilience by diversifying economies, improving fiscal management, and investing in sectors that create jobs and reduce poverty.

The IMF Africa chief acknowledged that the current environment is difficult, with many nations facing rising debt levels and limited fiscal space. But he insisted that the Fund’s role is to provide both financial assistance and technical guidance to help countries make the right policy choices. He said the IMF will continue to stand with Africa during this period of uncertainty.

Despite the risks, Zeidane expressed optimism about the continent’s future. He said Africa is well positioned to benefit from global shifts in trade and investment if it can harness its economic strengths. “Africa is poised to become the world’s next major engine of growth if its potential is fully unlocked,” he stated.