According to Agence France-Presse on October 25th, the President of the International Monetary Fund (IMF), Christina Georgieva, stated at the Future Investment Initiative meeting held in Riyadh on the 25th that the 19 day war between Israel and Hamas in the Gaza Strip has already affected neighboring economies and will impact the global economy.
According to the report, Georgieva said, "Looking at neighboring countries: Egypt, Lebanon, Jordan, the impact on these countries is already evident
On the day before Georgieva's speech, on the 24th, senior financial officials warned at the opening ceremony of the Future Investment Initiative Conference that the war between Israel and Hamas could have a heavy impact on the global economy as a whole.
She also said, "The horizon was already covered with dark clouds, but now there is another cloud
What we see is that in an already anxious world, people are more nervous, "Georgieva said." Some countries rely on tourism, and uncertainty is the 'killer' of tourist flow
When discussing the specific risks faced by the region, she emphasized that "investors will not be willing to travel to these countries, insurance costs - if they want to transport goods - will increase, and the number of refugees may also increase in countries that have already hosted many refugees.
Georgieva also said, "So now our advice to everyone is: fasten your seat belt
The Future Investment Initiative Conference, known as "Desert Davos," is typically an opportunity for Saudi Arabia to emphasize economic reform. Saudi officials say that the success of economic reforms depends on regional stability.