the situation in the Red Sea has not yet affected the global economy – Kommersant

The International Monetary Fund (IMF) believes that the situation with shelling of ships in the Red Sea has not yet affected the global economy. She reported this in an interview The Washington Post Managing Director of the IMF Kristalina Georgieva. She admitted that transportation through the Suez Canal had fallen, and problems had also arisen at the Panama Canal.

According to Ms. Georgieva, the consequences of the situation in the Red Sea are not of a scale “that would significantly derail global economic growth forecasts.” She says 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.

“And, of course, this (happening in the Red Sea.— “Ъ”) adds a bit of pressure on prices. Not yet to such an extent that I would say that global inflation forecasts will be revised towards growth,” assured Kristalina Georgieva.

She said that the volume of goods transported through the Suez Canal has decreased significantly, while the costs of transporting goods by sea and the cost of insurance are rising. Traffic through the Suez Canal fell by almost half in January compared with last year, according to the IMF. “The Panama Canal is also experiencing problems due to drought,” the IMF director added.

Shelling of international ships in the Red Sea increased in December 2023. This happened against the backdrop of a war between Israel and the Palestinian movement Hamas, which is supported by the Houthis. Since January 12, the United States, with the support of several Western countries, has carried out several strikes on Houthi positions in Yemen. Bloomberg agency reportedthat Russian tankers began to avoid the Suez Canal.

About the development of the conflict – in the publication “Kommersant” “Hamas paints a picture of a truce”.

Laura Keffer