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IMF: Too early to assess ME war impact on growth

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The International Monetary Fund believes it is still too early to evaluate the impact of the ongoing war between Israel and Hamas on the global economy.

This file photo taken on January 26, 2022, shows the seal for the International Monetary Fund in Washington, DC.MANILA, Philippines — The International Monetary Fund believes it is still too early to evaluate the impact of the ongoing war between Israel and Hamas on the global economy.

According to Srinivasan, a 10 percent increase in oil prices would cut global output by 0.15 percent and push inflation higher by 0.15 percent the following year. Georgieva noted that the IMF’s October 2023 World Economic Outlook, which was released last week, but drafted before the conflict broke out, already showed weak global growth.

“So far, so good… I think so far, it hasn’t really affected oil prices… but it may have spillover effects on global growth,” Remolona said.

 

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