The Managing Director and Chairman of the International Monetary Fund (IMF), Kristalina Georgieva, has announced that the ongoing conflict between Israel and Hamas in the Gaza Strip is damaging the economies of Egypt, Lebanon, Jordan, and the West Bank. According to Reuters, Georgieva stated that the violence is also affecting the gas sector and exacerbating the already difficult situation in the region, including the struggle to contain terrorism and to increase energy prices.

Georgieva expressed that the organization is “closely monitoring” the $3 billion program for Egypt’s loan arrangement, which is linked to the difficult situation caused by the ongoing conflict.