The Internatinal Monetary Fund (IMF) is concerned about the tragic loss of lives in the epicenter of the Israel-Gaza war and the destruction and reduction of economic activity, managing director Kristalina Georgieva said at an investment conference on Wednesday.
"What is happening in the Middle East is happening at a time when growth is slow and interest rates are high and cost of servicing debt has gone up because of COVID and war," she said.
The raging war between Israel and Hamas is already battering the economies of nearby countries, the managing director of the International Monetary Fund told a Saudi investor forum on Wednesday.
"You look at the neighbouring countries -- Egypt, Lebanon, Jordan -- there the channels of impact are already visible," Kristalina Georgieva said at the Future Investment Initiative in the Saudi capital Riyadh.
