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IMF expresses confidence in global resilience despite regional uncertainties

ByEditor

Feb 11, 2024
Despite Risks in the Middle East, IMF Head Remains Confident

In Dubai, the Head of the International Monetary Fund (IMF) expressed confidence in the resilience of the global economy. Despite uncertainties caused by geopolitical tensions and conflicts such as the ongoing Gaza war, Kristalina Georgieva stated that the global economy has shown surprising strength. However, she warned that any further implications of these events could exacerbate challenges for economies already impacted by previous shocks.

Recently, the IMF lowered its growth forecast for the Middle East and North Africa region to 2.9 percent, a 0.5 percentage point reduction from its October estimate. The organization highlighted that the outlook for the region is extremely uncertain, with numerous risks looming over it. For example, an escalation of violence in Gaza could lead to further instability in neighboring countries and disrupt trade flows, with serious consequences such as negatively affecting tourism industries.

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