The IMF has announced that it will revise its economic outlook for the Middle East and North Africa region due to the ongoing Israel-Hamas crisis, AFP reports.

The conflict will have wide-ranging consequences for “both people and economies” in the region, although the extent of the impact remains “highly uncertain,” the International Monetary Fund staff wrote in a blog post.

It did not say if the revisions would be released ahead of its next outlook publication, which is due in January.

“A large-scale conflict would constitute a major economic challenge for the region,” they said, calling on the international community to act to prevent further escalation.