IMF: it is “very early” to evaluate the economic impact of the conflict between Israel and Hamas

The chief economist of the International Monetary Fund (IMF), Pierre-Olivier Gourinchas, has assured that the institution is monitoring the situation in Israel before the war unleashed this Saturday, although it is still “too early” to think about the economic implications of the conflict.

In an interview with EFE on the occasion of the annual meeting of the IMF and the world Bank which is being held this week in Marrakech (Morocco), Gourinchas has been saddened by the loss of lives in the conflict.

“We are monitoring the situation closely“, he pointed out, “but it is too early to think about the economic implications of what is happening in Israel”, which is why he has indicated that they have to be “careful”.

International Monetary Fund calculates an increase in the price of oil

In a meeting with the media to present the global economic outlook report, Gourinchas added that the rise in oil prices in recent days is common “in situations where there is geopolitical instability” and reflects “the possible risk that oil production or transportation in the region could be interrupted”.

“It’s too soon” to know if this rebound is going to be maintained over time, he added, while recalling that the studies department of the IMF estimates that a 10% rise in oil price translates into an increase in global inflation of 0.4 points the following year.

Hamas attacked this Saturday Israel by land, sea and air, an action that was responded to with the declaration of a state of war and bombings on the strip of Loopin what represents the most critical moment of the Palestinian-Israeli conflict in decades.

With information from EFE