IMF: Military escalation in the Middle East, with consequences for the global economy

The International Monetary Fund warned today that continued military escalation in the Middle East could have consequences for the global economy and financial markets.

In a statement cited by CNN, the IMF said it has so far observed disruptions in trade and economic activity.

It is also noted that this period has been accompanied by a significant increase in energy prices, thus bringing increased instability and uncertainty in the global economic environment.

The escalation of the global economic situation comes as a result of attacks by the United States and Israel on Iran, and on the other hand, Iranian attacks on several Arab countries, has increased oil and gas prices, following the closure of the Strait of Hormuz , through which about 20% of global oil imports and 20% of liquefied natural gas pass./CNA

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