The IMF is set to cut its global growth outlook, warning that the Middle East conflict will leave lasting economic scars even under the most favourable scenario. Managing director Kristalina Georgieva said rising energy costs, supply chain disruptions, infrastructure damage and weakened market confidence will weigh on growth.
The Fund is preparing between €17bn and €42.9bn in emergency support for affected countries, depending on how the conflict evolves. It also warned that around 45 million people are facing food insecurity.
Speaking alongside the IMF meetings in Washington, Ajay Banga said the World Bank could mobilise up to €21.4bn quickly, with longer-term support reaching €50bn.
The warnings come as the conflict continues to disrupt global markets, push up oil prices and strain supply chains, with uncertainty still surrounding ceasefire efforts.
via Euronews
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