February 24, 2024 12:56 pm
Despite Risks in the Middle East, IMF Head Remains Confident

The International Monetary Fund (IMF) has expressed confidence in the development of the global economy, despite risks posed by wars and geopolitical situations. Kristalina Georgieva, the head of the IMF, stated that the global economy has proven to be surprisingly robust. However, she cautioned that further implications could result from the ongoing Gaza war, which could compound challenges for economies still recovering from previous shocks.

The IMF recently lowered its growth forecast for the Middle East and North Africa region to 2.9 percent, which is 0.5 percentage points less than what was assumed in October. The organization emphasized that the outlook for the region is extremely uncertain, with many risks dominating, including an expansion of the conflict in the Gaza Strip to countries neighboring Israel and trade disruptions caused by violence in the Red Sea. These factors could have serious consequences, including on the tourism industry.

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