The main spillover to the global economy, so far, from the Israel-Hamas conflict has been major disruptions to shipping, but there has been a bigger and broader economic impact in the MENA region. While the effects on the Gulf economies has been and will likely continue to be fairly small, balance of payments strains are intensifying Jordan and Egypt. The saving grace is that the conflict has galvanised support for these countries, with new IMF deals agreed or close to being secured.
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