International Monetary Fund

Shipping insurance rates soar on Red Sea missile attacks

Attacks by Yemen's Huthi rebels on commercial ships in the Red Sea have sent insurance premiums surging, exacerbating costs already stretched by soaring freight rates and longer alternative trade routes.

The Huthis have carried out relentless attacks since November on shipping transiting the Red Sea, a maritime hub through which 12 percent of global trade usually passes.

Finance Minister Vassilev Confirms Bulgaria's 2025 Eurozone Entry Target

In a significant diplomatic engagement at the International Monetary Fund (IMF) headquarters in Washington, Bulgaria's Finance Minister Asen Vassilev engaged in a comprehensive discussion with Managing Director Kristalina Georgieva, underscoring the nation's steadfast commitment to joining the Eurozone by January 1, 2025.

IMF, World Bank warn Gaza war, Red Sea attacks imperil global economy

The IMF and World Bank warned on Monday that the Gaza war and the related attacks on shipping though the Red Sea pose threats to the global economy.

The Israel-Hamas war raging since October has already hit the Middle East and North Africa region's economy, said the International Monetary Fund's managing director Kristalina Georgieva.

Pages