Israel-Palestine conflict is 'new cloud' darkening economic outlook: IMF

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Israel-Palestine conflict is 'new cloud' darkening economic outlook: IMF
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IMF's Managing Director Kristalina Georgieva appeals to countries to avoid escalating the situation and focus on areas of cooperation.

Georgieva joins a growing chorus of financial leaders expressing concern about the sudden eruption of violence in the long-running Israeli-Palestinian conflict. / Photo: AFP

"We are closely monitoring how the situation evolves, how it is affecting, especially oil markets," Georgieva said on Thursday. "Very clearly, this is a new cloud on not the safest horizon for the world economy, a new cloud darkening this horizon," she told a news conference at the annual meetings of the IMF and World Bank in Marrakech, Morocco.

Israel said on Thursday there would be no humanitarian break to its siege of Palestine's Gaza until all hostages taken by Hamas were freed, after the Red Cross pleaded for fuel to be allowed in to prevent overwhelmed hospitals from"turning into morgues".Read More

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