The US-Israel war on Iran is dealing a heavy blow to the global economy. Fuel prices are rising, food is becoming less affordable. Jobs are disappearing, and remittances from abroad are shrinking.
These consequences are felt not only in the Middle East but also in the fields and homes of Africa and Asia. Countries in the Global South are particularly vulnerable to the economic fallout due to their dependence on imports from the Gulf.
The United Nations warns that the conflict could push as many as 32.5 million people globally back into poverty. The war is weakening already fragile economies, and despite government efforts, international aid is becoming scarce.
