• Monday, December 04, 2023
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Israel-Hamas war casts shadow on global economic outlook, says IMF chief

IMF Chief says 20 SSA countries close to debt distress

During the current session of the International Monetary Fund (IMF) and World Bank meeting in Marrakesh, Morocco, the Managing Director of the IMF, Kristalina Georgieva, expressed her deep concern on Thursday, characterising the Israel-Hamas conflict as “heartbreaking.”

She pointed out that this conflict poses a significant threat to the already strained global economic outlook.

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“We are closely monitoring how the situation evolves, how it is affecting, especially oil markets. Very clearly, this is a new cloud on not the safest horizon for the world economy, a new cloud darkening this horizon – and of course, not needed,” Georgieva said.

She mentioned that oil prices had experienced some fluctuations, causing various market reactions, but it was premature to forecast the economic repercussions.