IMF says escalation of Middle East conflict poses significant economic risks
Smoke rises after an explosion following an Israeli air strike on a residential building, amid the Israel-Hamas conflict, in Nuseirat in the central Gaza Strip, July 20, 2024.
The International Monetary Fund said on Thursday an escalation of the conflict in the Middle East could have significant economic ramifications for the region and the global economy, but commodity prices remain below the highs of the past year.
IMF spokesperson Julie Kozack told a regular news briefing that the Washington-based global lender is closely monitoring the situation in southern Lebanon with "grave concern" and offered condolences for the loss of life.
