WASHINGTON (AP) — Economic crises are rippling through the countries bordering Israel, raising the possibility of a chain reaction from the war with Hamas...
WASHINGTON — Economic crises are rippling through the countries bordering Israel, raising the possibility of a chain reaction from theEach of the three countries is up against differing economic pressures that led the International Monetary Fund to warn in athat they could lose their "sociopolitical stability." That warning came shortly before Hamas attacked Israel on Oct.
“To presume that there won’t be a movement of people is naïve and premature,” said Swift. “Any sudden blow to the el-Sissi regime from the outside, whether it’s an economic blow, or whether it’s the sudden migration of a lot of people out of Gaza into the Sinai could have destabilizing effects.” “If you have this conflagration in Gaza, you need the rest of the region to be stable for everyone to take appropriate and correct action,” Mabrouk said. “You don’t need more instability in a region that is already quite unstable.”
Nearby Jordan is struggling due to slower economic growth and less foreign investment, according to the IMF. Its debt outlook is healthier than Egypt's, but its unemployment rate is in the double digits, according to financial data provider FactSet. Before the latest Israel-Hamas war, some officials had pointed to Lebanon’s rebounding tourism industry as an economic lifeline. But since the conflict has threatened to envelop Lebanon — with regular small-scale clashes already taking place between militants from Hamas-allied Hezbollah and Israeli forces on the country’s southern border — foreign embassies have warned their citizens to leave and airlines have canceled flights to the country.
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