IMF warns of repercussions of attacks on Saudi Arabia
Amman2 min read
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Managing Director of the International Monetary Fund Kristalina Georgieva said on Wednesday that rapid economic developments and progress in the field of artificial intelligence may widen the gap between advanced and developing economies, especially with the sharp decline in development aid.
Georgieva urged member states to fulfill their pledges and increase funding allocated to the Poverty Reduction and Growth Trust, which provides low-interest or interest-free loans to low-income countries, emphasizing the Fund's responsibility in helping countries obtain financing when needed.
In a related context, Georgieva warned that the recent attacks on Saudi Arabia could have repercussions on the global economy, in light of rising energy costs and escalating conflicts in the oil-rich region.
She said during a press conference held on the sidelines of the annual meetings of the International Monetary Fund and the World Bank in Bangkok that the Saudi economy is important to the region and the world, adding that recent developments could have "negative consequences that affect everyone everywhere."
This comes in light of a military escalation in Yemen, as the Chairman of the Yemeni Presidential Leadership Council, Rashad Al-Alimi, confirmed the continuation of the "Dawn of Yemen" operation to end the Houthi coup and restore state institutions, while government forces announced the execution of 2,200 targeting operations against the group. In return, the Houthis announced that Sanaa and nine governorates were subjected to 104 raids and missile strikes within 24 hours, threatening to target vital facilities in Saudi Arabia, which Al-Alimi condemned the attacks on, valuing its support for Yemen and its institutions.
