Qatar’s Finance Minister, Ali bin Ahmed Al Kuwari, has warned of a looming global economic crisis if the conflict involving Iran is not quickly settled. Speaking at the IMF Spring Meetings in Washington, D.C., Al Kuwari stated that the recent spikes in oil prices represent only the beginning of a much larger problem. He predicts that the full scale of the economic fallout will likely be felt worldwide by May or June 2026, noting that the consequences extend far beyond the Gulf region.
The minister highlighted that member states of the Gulf Cooperation Council (GCC) find themselves caught in the middle of escalating hostilities. Beyond broader market fears, the conflict has already resulted in physical damage to Qatar’s liquefied natural gas (LNG) infrastructure following Iranian missile strikes. These disruptions pose a severe risk to global energy security, as Qatar is responsible for nearly 20% of the world’s LNG exports, a factor that is already pushing international gas prices higher.
According to Al Kuwari, the global community should prepare for a substantial economic shock within the next month or two. He emphasized that while the initial market reactions have been concerning, the most significant “full-fledged” impacts of the war on the global economy are imminent and unavoidable without a diplomatic resolution.
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