IMF managing director says war is ‘devastating’ Gaza population, economy

International Monetary Fund (IMF) Managing Director Kristalina Georgieva says the economies of Egypt, Lebanon, Jordan, and the West Bank were suffering due to the war between Israel and Hamas in Gaza following the terror group’s shock October 7 assault on Israel.

Georgieva tells Reuters on the sidelines of the Asia Pacific Economic Cooperation Summit that the conflict is also “devastating” Gaza and has “severe impacts” on the West Bank’s economy while also posing difficulties for neighboring countries amid a loss of tourism and higher energy costs.

She says the organization is “seriously considering” an increase to Egypt’s $3 billion loan program due to the economic difficulties posed by the war.

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