Qatar’s Minister of State for International Cooperation, Maryam bint Ali Al-Misnad, stated that the impact of the crisis in the Strait of Hormuz on global development is growing increasingly severe.
Sea-news.az reports citing the official QNA agency, that speaking at a session titled “The Impact of the Closure of the Strait of Hormuz: The Hidden Cost of Conflict on Global Development,” held within the framework of the Paris Peace Forum in collaboration with the Doha Forum, the minister said: “Disruptions in the Strait of Hormuz affect numerous sectors, ranging from energy and transport to food security.” She called for international cooperation to counter the adverse effects of regional crises on global development.
Noting that Qatar participates in this dialogue both as a country directly affected by regional instability and as a responsible partner in international development, Al-Misnad also stressed that diplomacy, respect for sovereignty and international law, and freedom of navigation are fundamental pillars of regional stability and global prosperity. She noted that disruptions in the Strait of Hormuz and regional crises trigger far-reaching global consequences, extending from fuel and maritime transport costs to fertilizer and food prices, as well as household budgets.
Citing projections by the International Monetary Fund (IMF), the minister added that growth in emerging economies is expected to decline from 4.5 percent last year to 3.7 percent this year, while global inflation is forecast to rise to 4.7 percent. According to her, behind these figures stand families grappling with rising living costs and governments forced to make difficult choices between debt servicing and funding essential public services.
The Qatari minister emphasized that the crisis threatens years of hard-won development gains, particularly in the hardest-hit nations. She added that Qatar’s approach to crises integrates diplomacy with development cooperation, noting that by 2025 her country had signed two agreements with the United Nations totaling $21 million.
