The Israel-Hamas conflict's economic toll on neighboring countries is examined at the Future Investment Initiative in Riyadh.
The Israel-Hamas conflict is impacting neighboring countries, with a focus on tourism-dependent nations.
Israel’s neighbours are feeling the effects, especially those that rely on tourism, Kristalina Georgieva said at the Future Investment Initiative in the Saudi capital Riyadh. Israel has responded with relentless air strikes and a near-total land, sea and air blockade of Gaza, where the Hamas-run health ministry says 5 791 people have been killed in the war so far.Georgieva spoke one day after Wall Street titans told the forum that the war could deal a heavy blow to the world economy, especially if it draws in other countries.
An official familiar with the discussions on possible normalisation told AFP this month they are paused for now, though analysts say they could resume depending on how the war plays out. “If you have the Abraham Accords continuing and everyone coming together, that’s something that obviously people will want to stop.”While several high-profile speakers have addressed the current regional turmoil, FII attendees have highlighted the capacity for Saudi Arabia, the world’s biggest oil exporter, to withstand shocks and finance reforms using its deep-pocketed sovereign wealth fund, the Public Investment Fund.
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