Israel’s war on terror group Hamas, and the overhanging threat of a larger conflict, has created instability in the Middle East that will result in a long-term negative impact on the region’s economy, the International Monetary Fund (IMF) said in its new World Economic Outlook report.
What’s old news to Trends Journal subscribers is big news in the mainstream media. A hotter war in the Mideast could add $30 to $40 to the price of a barrel of oil, Bank of America (BoA) analysts warned in a recent note.
Egypt, Jordan, and Lebanon have suffered “severe” economic damage from Israel’s war with terrorist group Hamas, The New York Times reported.
The Israel-Hamas war threatens Europe’s energy prices and should prevent the European Central Bank (ECB) from raising interest rates further, Yannas Stournaras, governor of Greece’s central bank, said in a Financial Times interview last week.