The head of the International Monetary Fund (IMF) has warned that any widening of the conflict in Gaza would aggravate the economic harm caused by the conflict, Al Jazeera reports.

In a speech at the World Governments Summit in Dubai, IMF Managing Director Kristalina Georgieva said the impact of the conflict was being felt in reduced tourism in Middle Eastern countries, as well as rising freight costs and declining shipping in the Red Sea.

Georgieva said, however, that she was confident about the overall economic outlook despite the uncertainties as the global economy has proved resilient so far.