The International Monetary Fund (IMF) believes that the situation with the shelling of ships in the Red Sea has not yet affected the world economy. IMF Executive Director Kristalina Georgieva stated this in an interview with The Washington Post. She acknowledged that shipping through the Suez Canal has decreased, and the Panama Canal has also had problems.
According to Georgieva, the impact of the situation in the Red Sea is not on a scale "that would significantly disrupt forecasts for global economic growth". She says the impact is felt most strongly in Egypt: that country relies on revenue from the Suez Canal and is now losing more than $100 million a month.
"And, of course, this (what is happening in the Red Sea) adds a bit of pressure on prices. But not to the extent that I would say that global inflation forecasts will be revised," assured Kristalina Georgieva.
She pointed out that the volume of goods transported through the Suez Canal has decreased significantly, while the cost of transporting goods by sea and insurance costs have increased. Traffic through the Suez Canal almost halved in January compared to last year, according to the IMF. "The Panama Canal is also experiencing difficulties due to the drought," added the IMF director./BGNES
