There is no immediate plan for relief for the victims of the Israel-Hamas war as the battle between the warring parties intensifies, a statement released by the International Monetary Fund on Thursday suggests.
In a statement on Thursday released by the IMF press department which is five days after the clash began, the institution mourned the losses in Israel and Gaza but was silent on the issues of aid to the victims.
“The IMF deeply mourns the tragic loss of life of so many civilians in Israel and Gaza. To those who have lost loved ones, to colleagues and partners in the region, and those worried about family and friends, you are in our thoughts.
“We hope that peace and stability prevail,” the IMF said.
Hamas launched a dreadful attack on Israel on Saturday, when they were wrapping up the seven-day-long Jewish festival of Sukkot.
Hamas fired Thousands of missiles from Gaza on indiscriminate targets in Israel leading to death and lots of injuries.
As of Thursday, at least 1,200 people have died as a result of the Hamas assault, IDF spokesperson Lt. Col. Jonathan Conricus said.
Israel began retaliation which has led to 1,354 deaths in Gaza, while the Palestinian health ministry said over 4,250 have been wounded since Israel began to retaliate.
At the World Economic Outlook, the IMF said it cannot estimate the impact on the global economy.
IMF’s Director, Research Department said Pierre Olivier Gourinchas said, “We are monitoring closely the situation. One of the things that we have observed already is that oil prices have increased somewhat over the last few days, by about four percent. And of course, this is something that we see often in situations where there is geopolitical instability in the region.
“We see spikes in energy prices and oil prices. We’ve seen that in previous crises and previous conflicts. And, of course, this reflects the potential risk that there could be a disruption either in the production or transport of oil in the region.”
Unlike the Russian invasion of Ukraine on February 24, 2022, the IMF on the 25, of February released a lengthy statement that assured it would provide relief for Ukraine.
“Today I met with our Executive Board to brief Executive Directors on our initial assessment of the unfolding situation. I assured them that our staff will continue to work closely with the authorities to support Ukraine in every way we can. We will also continue to work hand in hand with the World Bank Group and other partners to coordinate our support and ensure the maximum benefit for Ukraine.
“The Fund has a number of instruments in its toolkit and, as the situation in Ukraine evolves, we will continue to discuss with the authorities how we can best assist them.
“These discussions are being conducted remotely with staff participating from Washington. In addition to ongoing policy advice, we are exploring all options for further financial support, including under the existing Stand-By Arrangement for an outstanding amount of US$2.2bn.
“The authorities have also requested IMF emergency financing,” part of the statement of the IMF Managing Director, Kristalina Georgieva reads.