"New cloud" darkening the horizon of world economy: IMF on Israel-Gaza violence
Oct 12, 2023
Washington, DC [US], October 12 : Calling the deadly Hamas attack on Israel "heartbreaking", the International Monetary Fund said that the attack is a new cloud "darkening" the horizon of the world economy.
Addressing a press briefing, IMF Managing Director Kristalina Georgieva said, "It is heartbreaking to see innocent civilians dying. An attack from one place on another causing also reciprocity in response, who pays the price? It is the innocent who pays the price".
She further said that the IMF will be closely monitoring the situation, especially the impact on oil markets.
"In terms of economic impact, we are very closely monitoring how the situation evolves, how it is affecting especially oil markets. It is too early to say. We have seen some ups and downs in oil prices. We have seen some reaction on markets. As I said, we will be closely monitoring this. Very clearly this is a new cloud on not the sunniest horizon for the world economy, a new cloud darkening this horizon that is not needed. Pray for peace," she said.
In a separate official statement, the IMF mourned the loss of lives in Israel and Gaza amid the ongoing violence.
"The IMF deeply mourns the tragic loss of life of so many civilians in Israel and Gaza. To those who have lost loved ones, to colleagues and partners in the region, and those worried about family and friends, you are in our thoughts. We hope that peace and stability prevail," the statement read.
The death toll in Israel since the Hamas attack has crossed 1,300 and some 3300 have been injured, including 28 in critical condition and 350 in serious condition, The Times of Israel reported citing Hebrew media reports.
The fate of an estimated 150 people abducted and taken to the Gaza Strip during the attack by Hamas is still unclear, the report said.
In addition to this, over 1300 people were also killed in Gaza after Israel launched a strong counter-offensive against the Hamas terror group.
