The closure of the Strait of Hormuz is like a ticking time bomb for the global economy. The International Monetary Fund (IMF) has already cut its forecast for global growth this year from 3.4 percent to 3.1 percent. If the flow of crude oil and natural gas isn’t restored until next year, the IMF expects growth to fall to 2 percent, a rare occurrence in recent decades, with inflation rising to 6 percent. Apart from the countries directly involved in the conflict, energy importers and low-income

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