MARRAKECH, Morocco: World Trade Organization chief Ngozi Okonjo-Iweala said she hoped the Israel-Hamas conflict could be ended quickly, warning it would have a “really big impact” on already weak global trade flows if it widened throughout the region.
Okonjo-Iweala, in Morocco for this week’s annual meetings of the International Monetary Fund and World Bank, said Middle East violence could add to factors throttling trade growth, including higher interest rates, a strained Chinese property market and Russia’s war in Ukraine.
“We hope this ends soon and it’s contained. Our biggest fear is if it widens, because that will then have a really big impact on trade,” she said in an interview. “Everybody’s on eggshells and hoping for the best.”
Okonjo-Iweala said global uncertainty was already limiting growth in trade, but that would be exacerbated by the sudden onset of war between Israel and the Islamist Hamas group that controls the Gaza Strip.
“There is uncertainty about whether this is going to spread further to the whole region, which could impact very much on global economic growth,” she said. “We hope it will end because it does create this uncertainty. It’s another dark cloud on the horizon.”
The Geneva-based trade body last week halved its growth forecast for global goods trade this year, citing persistent inflation, higher interest rates, the slowing Chinese economy and the war in Ukraine.
The WTO said merchandise trade volumes would increase by just 0.8 percent in 2023, compared with its April estimate of 1.7 percent.
For 2024, it said goods trade growth would be 3.3 percent, a forecast virtually unchanged from its April estimate of 3.2 percent.
The 164-member organization repeated its warning that it saw some signs of trade fragmentation linked to global tensions, but no evidence of a broader de-globalization that could threaten its 2024 forecast.
WTO chief warns of ‘really big impact’ on trade if Israel-Hamas conflict widens
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WTO chief warns of ‘really big impact’ on trade if Israel-Hamas conflict widens
- Director General Ngozi Okonjo-Iweala said global uncertainty was already limiting growth in trade, and that would be exacerbated should the war between Israel and Hamas widens
Palestinian NGO condemns Israeli act of ‘revenge’ after prisoner abuse video
- A Palestinian NGO has denounced what it called an Israeli act of revenge after a video showed far-right National Security Minister Itamar Ben Gvir overseeing the abuse of detainees in a military prison
RAMALLAH: A Palestinian NGO has denounced what it called an Israeli act of revenge after a video showed far-right National Security Minister Itamar Ben Gvir overseeing the abuse of detainees in a military prison.
Just days before the start of the Muslim holy month of Ramadan, Ben Gvir held a tour of Ofer Prison in the occupied West Bank, Israel’s Channel 7 reported.
In footage filmed on Friday and broadcast by the channel, around 20 police officers are seen storming a hallway leading to prison cells, brandishing their weapons and firing stun grenades.
They then pull five detainees from their cells, their hands tied behind their backs, forcing them face-down onto the floor.
The operation took place as a bill proposing the death penalty for Palestinian prisoners convicted of terrorism awaited a final vote in the Israeli parliament.
“This is all part of ongoing displays meant to take revenge on Palestinian detainees,” Abdallah al?Zaghari, head of the Palestinian Prisoners’ Club, told AFP on Saturday.
“Everything Ben Gvir and the far?right government are doing affects not only the Palestinian people and prisoners in detention camps — it also impacts the global legal and human rights system,” he added.
Ben Gvir, known for his inflammatory rhetoric, is considered one of the most hard-line members of Prime Minister Benjamin Netanyahu’s ruling coalition.
“It is simply a source of pride — arriving at a prison like this, a prison for terrorists, the vilest of the vile, seeing them like this,” Ben Gvir said in the video.
“I want one more thing: to execute them — the death penalty for terrorists,” he added.
Palestinian Islamist movement Hamas on Saturday said the remarks were “a new war crime and a blatant challenge to international humanitarian law regarding prisoners.”
International rights groups have repeatedly warned of alleged abuse and mistreatment inflicted in Israeli prisons since Hamas’s October 7, 2023, attack on Israel.
While the death penalty exists for a small number of crimes in Israel, it has become a de facto abolitionist country, with the Nazi Holocaust perpetrator Adolf Eichmann the last person to be executed in 1962.
