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IMF to review regional prospects due to conflict between Israel and Hamas

IMF to review regional prospects due to conflict between Israel and Hamas

He International Monetary Fund (IMF) announced that it will review its economic outlook for the Middle East and North Africa region due to the ongoing conflict between Israel and Hamas.

The conflict will have far-reaching consequences for “both people and economies” in the region, although the extent of the impact remains “highly uncertain,” IMF staff wrote in a blog post.

He did not say whether the revisions would be made public before the next outlook release, scheduled for January.

”A large-scale conflict would constitute a major economic challenge for the region,” they said, calling on the international community to act to prevent further escalation.

In case of conflict On a large scale, “what is certain is that the forecasts for the most directly exposed economies will be lowered and that policies to cushion shocks and preserve stability will be essential,” they add.

Israel resumed its deadly bombing raids on Friday Gaza Strip after the breakdown of a fragile truce, stating that it had hit more than 200 targets in the Palestinian territory, despite international calls for a new pause.

He conflict between Israel and Hamas erupted on October 7, when militants from the Islamist group stormed into Israel across the border. Loopkilling about 1,200 people, most of them civilians, and taking about 240 people hostage, according to Israeli authorities.

In response, Israel announced that it would destroy Hamas and began an incessant bombardment of Palestinian territory.

More than 15,000 Palestinians, mostly civilians, have died in the Gaza Strip since then, according to the Hamas government’s Health Ministry, including at least 178 people on Friday alone.

Source: Gestion

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