Israel-Hamas war may impact world economy

The International Monetary Fund said it is closely monitoring the impact the ongoing Israel-Hamas war could have on the world economy.

The IMF MD however said that the situation is not all good for the world economy, describing it as “a new cloud darkening this horizon.” She stated, “It is heartbreaking to see innocent civilians dying. An attack from one place on another, causing reciprocity in response.”Georgieva said there have been severe shocks that are now becoming the new normal for a world that is weakened by weak growth and economic fragmentation.

“Low‑income economies have been hardest hit because they have had extremely limited buffers to begin with, so it was hardest for them to protect their economy, to protect their people,” she added.

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