AssessmentsJan 29, 2024 | 21:34 GMT
How Will the Gaza War Impact Egypt, Jordan and Lebanon's Economies?
The Hamas-Israel war is harming the economies of Egypt, Jordan and Lebanon, but Cairo and Amman's access to IMF loans means they're better positioned to weather the storm than Beirut. As the Israel-Hamas war approaches its fifth month, the economic toll of the war on regional neighbors is becoming more apparent. The International Monetary Fund (IMF) and the World Bank expressed concerns over the economic impact that a sustained conflict would have on Egypt, Lebanon and Jordan's economies due to their geographic proximity and immediate risk of spillover effects. While some sectors, including the energy sector, rebounded after the initial shock of the Gaza war's outbreak, regional uncertainty has left lasting impacts on the region's tourism, transportation and service industries. The United Nations estimated that the first three months of the war cumulatively cost Egypt, Jordan and Lebanon $10.3 billion, though the cost will continue to grow as the warREAD MORE