-- The World Bank could mobilize between $80 billion and $100 billion over the next 15 months to support countries impacted by the Middle East conflict, Reuters reported Wednesday, citing President Ajay Banga.
The package, which exceeds the deployment during COVID-19, would include $20 billion to $25 billion in near-term support through a crisis response window, alongside $30 billion to $40 billion from reallocating existing programs within about six months. Additional resources could be tapped from the bank's balance sheet if the conflict persists, reportedly.
IMF Managing Director Kristalina Georgieva said the outlook depends on how long the conflict continues, and urged governments to use targeted support instead of broad energy subsidies to manage higher costs, the news agency said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)