World Bank President Ajay Banga said on Tuesday at an investor conference in Saudi Arabia that the war between Israel and Hamas might have "serious" repercussions for the global economy.
"There is so much going on in the world and geopolitics in the wars that you're seeing and what just happened recently in Israel and Gaza. At the end of the day, when you put all this together, I think the impact on economic development is even more serious ... I think we are at a very dangerous juncture," Banga underlined.
Although the World Bank chief cautioned geopolitics are currently the biggest risk for the economy, he also noted that these risks "tend to move around" quickly and if other threats emerge, such as a rise in yields or another possible pandemic for example, they shouldn't be ignored.