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IMF Forecasts 6% Contraction, Hyperinflation as Iran Trade Blockade Hits

4/23/2026

34 2 Full Breakdown

Summary

Story summary

IMF projects Iran's economy to shrink 6.1% in 2026, with inflation expected to hit 68.9%.
Iran issued a 10-million rial note as the rial fell to 1.32 million dollar.
Inflation rose from 64% to 105% by February 2026, with bread 140% and oils 219%.
The blockade of the Strait of Hormuz halted 90% of Iran's trade, while U.S.–Israeli strikes on facilities caused $200-billion to $270-billion in damage, requiring a decade to rebuild.

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Story summary

IMF projects Iran's economy to shrink 6.1% in 2026, with inflation expected to hit 68.9%.
Iran issued a 10-million rial note as the rial fell to 1.32 million dollar.
Inflation rose from 64% to 105% by February 2026, with bread 140% and oils 219%.
The blockade of the Strait of Hormuz halted 90% of Iran's trade, while U.S.–Israeli strikes on facilities caused $200-billion to $270-billion in damage, requiring a decade to rebuild.