Israel-Hamas war could threaten already fragile economies in Egypt, Lebanon and Jordan

WASHINGTON — Economic crises are rippling through the countries bordering Israel, raising the possibility of a chain reaction from the war with Hamas that further worsens the financial health and political stability of Egypt, Jordan and Lebanon and creates problems well beyond.

World Bank head Ajay Banga warned at a conference in Saudi Arabia this week that the war puts economic development at a “dangerous juncture.” Egyptian President Abdel Fattah el-Sissi refuses to take in Palestinian refugees, fearing that Israel wants to force a permanent expulsion of Palestinians and nullify Palestinian demands for statehood. The Egyptian leader also said a mass exodus would risk bringing militants into the Sinai Peninsula.

In April, the IMF concluded that Egypt’s financing needs for the year were equal in size to 35% of its gross domestic product. On Oct. 5, Moody’s downgraded Egyptian debt that was already at junk status. The downgrade came as past efforts have failed to help Egypt’s economy, which was saddled with about $160 billion in debt as of the end of last year.

One major potential setback for Egypt stemming from the latest Israel-Hamas War would be the loss of tourists seeking to explore the country’s ancient pyramids and history. Tourism is one of Egypt’s leading economic sectors, and along with foreign investment it provides needed access to the rest of the global economy.

پاکستان تازہ ترین خبریں, پاکستان عنوانات

Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔

UAE Minister Reem Al Hashimy Powerful Speech at UNSC; Calls for immediate ceasefire in GazaIsrael-Hamas war: MBS stresses to Biden to ensure Palestinian rights
ذریعہ: SAMAATV - 🏆 22. / 51 مزید پڑھ »

Pakistan For Urgent Aid Corridor to GazaUAE calls for immediate ceasefire in Israel-Hamas war
ذریعہ: SAMAATV - 🏆 22. / 51 مزید پڑھ »

UAE Minister Reem Al Hashimy Powerful Speech at UNSC; Calls for immediate ceasefire in GazaIsrael-Hamas war: MBS stresses to Biden to ensure Palestinian rights
ذریعہ: SAMAATV - 🏆 22. / 51 مزید پڑھ »

Israel-Hamas War: Maisa Abdel Hadi arrested after social media postMaisa Abdel Hadi arrested after social media post amid Israel-Hamas War. Authorities detained a Nazareth-based actress and network influencer
ذریعہ: BOLNETWORK - 🏆 9. / 63 مزید پڑھ »

Israel-Hamas War: Qatar’s PM hopes for progress on hostages’ release soonQatar's PM hopes for progress on hostages' release soon amid Israel-Hamas War. Gulf state coordinating with US to lead mediation discussions
ذریعہ: BOLNETWORK - 🏆 9. / 63 مزید پڑھ »

Buckle up! Interest rates are here to stay for longer: IMF chiefKristalina Georgieva warns Israel-Hamas conflict is another cloud on horizon among many
ذریعہ: DunyaNews - 🏆 1. / 83 مزید پڑھ »