IMF now sees MENA economy contracting 0.5%

The IMF marginally trimmed its 2026 global growth forecast to 3.0%, down from 3.1% in April, in its latest economic outlook report (pdf)

That’s despite Egypt and Saudi Arabia’s expected growth this year.

Behind the downgrade:

The IMF frames 2026 as two opposing forces

The oil math behind the downgrade got more expensive, not cheaper.

BACKGROUND- global second-half acceleration at 3.1% annualized

Interest rates (CBE)

S&P Egypt Sovereign Bond Index

S&P MENA Bond & Sukuk

VIX (Volatility Index)

The EGX30 rose 0.5% at Thursday’s close