Bangladesh, June 16 -- African economies entered this year already burdened by a complex mix of economic challenges. Weak global demand for exports, rising protectionism, unpredictable tariff regimes, post-pandemic debt pressures, structural unemployment and persistent financial outflows had created a difficult environment for growth and development. The recent escalation of conflict in the Middle East, following military actions involving the United States, Israel and Iran, has further complicated the outlook. Disruptions to shipping through the Strait of Hormuz have increased energy costs, intensified supply shortages and contributed to rising inflationary pressures across the African continent.

In response to accelerating inflation, m...