IMF raises concern over global economic impact of Israel, Hamas war

The International Monetary Fund (IMF) has raised an alarm over the ongoing war between Israel and Hamas Islamist militants, comparing it to “a new cloud on not-the-sunniest horizon for the world economy.”

IMF Managing Director Kristalina Georgieva, who raised the concerns at the current session of the IMF and World Bank meeting in Marrakesh, Morocco, on Thursday, said the conflict will have a negative impact on global economy.

“In terms of economic impact we are very closely monitoring how the situation evolves, how it is affecting especially oil markets,” Georgieva told a press conference on the sidelines of the meeting.

Read also: US Sec of State, Blinken, in Israel to show support after Hamas’ surprise attack

She pointed out that this conflict poses a significant threat to the already strained global economic outlook as oil prices had already experienced some fluctuations, causing various market reactions, though it was premature to forecast the economic repercussions.

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