Analysis-IMF, World Bank 'impotent' on Israel-Gaza war shock as reforms edge forward
© Reuters. Smoke rises in the air following Israeli bombings in Gaza, as seen from Israel's border with the Gaza Strip, in southern Israel October 15, 2023.
In private conversations at the meetings, the Israel-Gaza conflict's implications were front and center, from a new refugee crisis to trade impacts and the threat of fighting in Lebanon and the West Bank, participants from finance groups to non-profits told Reuters. These bodies were again unable to issue joint communiques, reflecting deepening geopolitical tensions, most recently over Russia's invasion of Ukraine, but also disputes between the United States and China, which have long sparred over communique language.
The World Bank's governing body approved a new vision statement"to create a world free of poverty on a livable planet" to incorporate its new mission to fight climate change, pandemics and fragile states, along with new steps to expand lending.
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