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IMF: Escalation of Middle East conflict could have 'significant' economic consequences

Middle East News

2024-10-03 | 10:43

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IMF: Escalation of Middle East conflict could have 'significant' economic consequences

The International Monetary Fund (IMF) said Thursday that 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 said that the Fund is closely monitoring the situation in southern Lebanon with "grave concern" and offered condolences for the loss of life.

"The potential for further escalation of the conflict heightens risks and uncertainty and could have significant economic ramifications for the region and beyond," Kozack said.

Reuters

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