UN Chief Warns Strait of Hormuz Closure Would Cut Global Growth to 2.5%, Spike Inflation to 5.4%

According to UN Secretary-General António Guterres, on April 30, the continued closure of the Strait of Hormuz would trigger severe economic consequences. If the strait remains closed through mid-year, global economic growth would fall to 2.5%, inflation would rise to 5.4%, 32 million additional people would fall into poverty, and 45 million would face extreme hunger. If closure extends through year-end, global growth would drop to 2%, with inflation exceeding 6%. Guterres urged all parties to avoid actions that could undermine the fragile ceasefire.