London CNN —The Israel-Hamas war is likely to hurt other economies in the Middle East, including Egypt, Lebanon and Jordan, International Monetary Fund (IMF) managing director Kristalina Georgieva said Wednesday.
Tourism will likely take a hit, and the cost of insuring the movement of goods will go up.
The IMF sees an “incredibly resilient world economy, but jittery and more so,” as a consequence of the war, Georgieva said.
Her comments highlight that the economic fallout from the war is only likely to grow, even as financial markets remain relatively sanguine about the consequences for now.
Make sure that you understand [higher] interest rates are here to stay for longer,” she said, pointing to the fact that inflation was not falling fast enough.
Persons:
Kristalina Georgieva, CNN’s Richard Quest, Georgieva, “, ” Richard Kozul, Wright, ”, ” — Winston Lo
Organizations:
London CNN, International Monetary Fund, Future Investment Initiative, “, IMF, United Nations Conference, Trade, Development, West Bank, Gross, UNCTAD, Saudi
Locations:
Israel, Egypt, Lebanon, Jordan, “ Davos, Saudi Arabia, Tourism, Russia, Gaza, East Jerusalem, Ukraine