How Israel - Hamas War is having severe negative impacts on Pakistan?
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Washington: IMF Managing Director Kristalina Georgieva has warned that the Israel-Palestine conflict is adversely affecting global oil markets, leading to rising prices.
According to details, IMF Managing Director Kristalina Georgieva, while addressing the annual meetings of the IMF and the World Bank in Morocco, discussed the situation of Israel-Hamas conflict.
She stated that Israel is darkening the economic landscape of the Palestinian conflict, preventing the situation from deteriorating further.
Kristalina Georgieva stated that the global economic system is already facing challenges, and the conflict is causing damage to the global oil markets, resulting in increased inflation.
Pakistan which heavily dependant on the oil imports will have severe negative impacts on its economy. Pakistan Oil imports are over $10 billion and an increase of $10 to $20 in the international oil market will give a loss of billions of dollars.
Simultaneously the Pakistani Rupee will also come under severe pressure from US Dollar and with this development there is going to be further inflation in Pakistan.
