IMF, World Bank warn Gaza war, Red Sea attacks imperil global economy

The IMF and World Bank caution that the Israel-Hamas conflict and Red Sea attacks threaten global economy. The war’s prolonged nature could worsen repercussions, especially on shipping through the Suez Canal. UN reports show a significant drop in traffic. IMF’s Georgieva urges for peace, fearing broader consequences. Despite uncertainties, IMF remains optimistic about the global economy’s trajectory. World Bank President Banga highlights Gaza, Ukraine, and Red Sea challenges as key factors affecting global economic outlook.