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Despite Risks in the Middle East, IMF Head Remains Confident

Despite the ongoing risks posed by wars and geopolitical tensions, the Head of the International Monetary Fund (IMF) expressed confidence in the development of the global economy at a recent summit in Dubai. Kristalina Georgieva stated that despite these challenges, the global economy has proven to be surprisingly robust. However, she cautioned that further implications could result from the ongoing Gaza war, which could compound challenges for economies still recovering from previous shocks.

In a recent report, the IMF lowered its growth forecast for the Middle East and North Africa region to 2.9 percent, 0.5 percentage points less than what was assumed in October. The organization emphasized that the outlook for the region is extremely uncertain, with many risks dominating, including an expansion of conflict in Gaza Strip to neighboring countries and trade disruptions caused by violence in Red Sea having serious consequences on tourism industry among other sectors of economy.

By Editor

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