The International Monetary Fund (IMF) has called for financial reforms, particularly in the cryptocurrency industry, to enhance global economic stability.

Despite the IMF's expectations for economic growth across the Middle East, it believes that the recent conflict between the occupying entity and Hamas poses significant risks to the region's economy.

The IMF emphasized in a joint statement the importance of "managing technological transitions to avoid digital fragmentation" and narrowing the digital divide to create "modern, efficient, and cross-border local payment systems while promoting financial inclusion."

Representatives of the IMF also stated that there is a need to develop internationally coordinated rules and regulations regarding cryptocurrencies, data protection, cybersecurity, and artificial intelligence.

IMF Managing Director Kristalina Georgieva later described the conflict between the occupying entity and Hamas as a new cloud on the horizon, further complicating an already uncertain global economic landscape.

Simultaneously, the Palestinian economy has also been negatively affected by the war, exacerbated by tax cuts from the occupying entity, leading to bleak economic outlooks, as confirmed by the IMF.

The IMF has adjusted its global economic growth expectations recently, anticipating a slowdown to 2.9% in 2024, slightly lower than the projected 3% for this year and slightly lower than the 3% expected in July.

Economists at the #IMF also warned that it is too early to measure the full economic impact of the escalating conflict in the Middle East, aligning with financial leaders' concerns about the sudden violence in the ongoing conflict between the occupying entity and the Palestinians, which has tragically claimed the lives of thousands.