Brief by Shorts91 Newsdesk / 10:18am on 24 Oct 2023,Tuesday International
World Bank President Ajay Banga said the recent Israel-Hamas war could deal a serious blow to the global economy. Speaking at an investor conference in Saudi Arabia, Banga warned that geopolitical tensions, like the Middle East conflict, pose the biggest threat to world economic development right now. He described the current global situation as a "very dangerous juncture." Banga noted economic risks can shift rapidly, using the example of 10-year US Treasury yields briefly crossing 5% on Monday, an area not seen before.
