Finance ministers and officials have warned that the specter of a wider conflict in the Middle East poses a new threat to the global economy.
Broader regional tensions will have a significant economic impact, they said at the end of an International Monetary Fund and World Bank meeting in Morocco this week. The biennial event comes as Israel declares war on Hamas and launches massive bombing of Gaza.
“If the conflict escalates or expands to the entire region, we will face serious consequences,” French Finance Minister Bruno Le Maire said, adding that risks include inflation and a decline in confidence caused by rising energy prices.
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