The president of the World Bank, Ajay Banga, has stated that it will take time for progress towards a peaceful Middle East to resume following the Israel-Hamas war. The conflict has disrupted nascent normalization talks and made regional cooperation more difficult. Banga expressed concerns about the impact of the conflict on the global economy, particularly in energy markets, and the potential spike in food and fertilizer prices. The head of the International Monetary Fund, Kristalina Georgieva, also highlighted the conflict as another concern for the already gloomy economic outlook.
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