• 17/07/2024 16:32

Red Sea crisis does not significantly affect the global economy – IMF

The IMF believes that the situation with shelling of ships in the Red Sea has not yet affected the global economy. This was stated by the Managing Director of the Fund, Kristalina Georgieva, in an interview with The Washington Post.

The crisis in the Red Sea does not significantly affect the global economy — IMF

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Georgieva admitted that transportation through the Suez Canal has fallen, and problems have also arisen at the Panama Canal.

According to her, at present, the consequences of the situation in the Red Sea do not have such a scale “that would be significantly derailed global economic growth forecasts.”

Georgieva also noted that the impact is being felt most in Egypt, which relies on revenue from the Suez Canal and is now losing more than $100 million a month.

“Of course, the situation in the Red Sea adds a little pressure on prices. Not yet to such an extent that I would say that global inflation forecasts will be revised upward,” she added.

According to the IMF, the volume of cargo transportation through the Suez Canal has decreased significantly, while at the same time it is increasing the costs of transporting goods by sea and the cost of insurance.

So, in January, the volume of traffic through the Suez Canal fell by almost half compared to last year. “The Panama Canal is also experiencing problems due to the drought,” summed up the head of the IMF.

minfin.com.ua

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