Ships sink in Strait of Hormuz as Iran vows to keep fighting; IMF slashes Mideast growth outlook

Two vessels sank near the Strait of Hormuz this week, one hit by a projectile and one by a sea mine, as Iranian parliament speaker Mohammad Bagher Ghalibaf said Tehran does not want an endless war, but will keep fighting the US and Israel until Washington meets its demands. The IMF sharply cut its 2026 growth forecast for the Middle East and Central Asia, citing a longer closure of Hormuz than it had assumed in April, while predicting a sharp rebound in 2027 if the strait reopens. Iran is separately blaming 'foreign-backed terrorist groups' for the killing of two of its security personnel near its Chabahar port this week.

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