Hamas-Israel War: IMF mourns ‘tragic’ loss of lives in Israel & Gaza, hopes for peace

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The International Monetary Fund (IMF) said it hopes for “peace and stability” amid the ongoing war between Hamas and Israel, which has resulted in heavy casualties on both sides.

“The IMF deeply mourns the tragic loss of life of so many civilians in Israel and Gaza,” the global financial organization said in a statement during the annual conference in Morocco, where hundreds of delegates from across the world have gathered to discuss the global economic outlook.

To those who have lost loved ones, to colleagues and partners in the region, and those worried about family and friends, you are in our thoughts. We hope that peace and stability prevail,” the IMF said.

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On Thursday, the General Secretary of IMF, Kristalina Georgieva, said the war has darkened the horizon for the world economy, which was already experiencing weak growth.

She said the IMF was “very closely monitoring how the situation evolves” and how it is affecting oil markets.

The IMF Director of the Middle East and Central Asia Department, Jihad Azour called the ongoing armed conflict an economic “earthquake” in a panel discussion at the annual conference, saying that it will have challenging repercussions for the Middle East and the larger world economy.

While lower compared to the prices in the last few months, crude oil price has shot up since the start of the war. The price of gold also increased as news of the war broke – they have since leveled off.

The Israel-Palestine war has caused significant casualties, killing over 1,400 Palestinians in Gaza and the West Bank and more than 1,300 Israelis and foreign nationals.

Read more:

Hamas-Israel war an economic ‘earthquake’ for Middle East: IMF’s Jihad Azour

Israel-Hamas war a ‘new cloud’ darkening world economy: IMF

IMF’s Gopinath sees inflation, growth risks if Israel-Hamas war widens

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