Global finance leaders' paralysis in addressing the fallout from the Hamas attack and Israel's response last week exposed deep geopolitical divisions hampering the International Monetary Fund and World Bank, even as they advanced new funding plans aimed at easing more-frequent economic shocks.
Hamas launched its unprecedented attack on Israel on Oct. 7, just as top finance officials arrived in Morocco for the IMF and World Bank annual meetings, upending the gathering's carefully crafted script calling for new resources and steps to revive flagging global growth.
"In the face of a major global shock like this that’s human created, that's not a climate shock, these institutions are impotent to do anything about it, which is why they’re not even talking about it," said Rachel Nadelman, a senior research fellow at American University’s Accountability Research Center, who attended civil society and official events at the meetings.
"You know, without peace, it's hard for people to get stability, growth, look after their children, get jobs," he said.
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