A cargo ship (right) is captured by Houthi  on the way to the port in Hodeida (Yemen), off the Red Sea (November 22, 2023) Photo: AFP/VNA

Speaking at the World Governments Summit, an annual gathering of business and political leaders in Dubai, on Monday, the International Monetary Fund warned Israel’s campaign as well as the increasing tensions in the Red Sea pose significant threats to the global economy.  

Kristalina Georgieva, the IMF managing director, said attacks by the Yemeni armed forces against Israel-linked ships in the Red Sea could push the conflict into other regions.  

In addition to the IMF, the World Bank has said the Israeli campaign in Gaza is one of the top challenges to the global economic outlook. The World Bank’s President Ajay Banga echoed Georgieva’s concerns on Monday.