IMF and World Bank warn Gaza and Red Sea chaos imperils global economy

The IMF and World Bank warned on Monday that the Gaza war and the related attacks on shipping through the Red Sea pose threats to the global economy.

The Israel-Hamas war raging since October has already hit the Middle East and North Africa region’s economy, said the International Monetary Fund’s managing director, Kristalina Georgieva.

Its knock-on effects could impact the world the longer the fighting drags on, Georgieva told the World Governments Summit, an annual gathering of business and political leaders in Dubai.