ESCWA chief: crisis costs Arab region over $150 billion, warns of rising toll

Speaking at IMF/World Bank meetings in Bangkok, ESCWA chief Rania Al-Mashat said the crisis cost the Arab region over $150 billion in its first month.

• Al-Mashat said ESCWA presented to the UN Security Council an estimate that the crisis's first-month impact on the region exceeded $150 billion.
• She warned the cost "increases day by day," citing diesel prices, Bab al-Mandab developments, and rising interest rates in developed countries.
• She said disruptions at Hormuz and Bab al-Mandab threaten global food security, and food prices above 20% could push 5 million people into critical conditions.
• She called for enforcing international law and ensuring maritime navigation security as the only way to address the crisis.