Lanka’s economy, the Middle East and the IMF agreement

If the ongoing Middle East war escalates the entire oil producing region will go up in flames, send prices of fuel sky rocketing and adversely affecting the poorest nations on planet earth

Our country is struggling to get out of a situation of bankruptcy. President Dissanayake is even today in discussion with a high-level delegation of the International Monetary Fund (IMF). According to media reports Dissanayake has doubled down on his acceptance of the agreement. He has however informed the delegation of the need to help the poorer sections of the community by lowering particular taxes. 

The IMF too, earlier spoke of the need to set up a safety net to protect the poor. Hopefully there should be few problems, as that organisation had already recognised this need.   
Unfortunately for us Lankans, events taking place away from our country are threatening to upset the best laid plans of ‘men and mice’. Israel’s continuing expansion of its war against Palestine is threatening to boil over and engulf the region in a destructive war-without-end.  
Tensions in the Middle East have reached boiling point. Presently the state of Israel is attacking the Gaza Strip and the West Bank in Palestine. It is also carrying out attacks on three other Middle East states -Syria, Lebanon, Yemen and Iran.  

Israel commenced its genocidal campaign to eradicate Palestinians on 7 October last year. In the Gaza Strip alone the death toll of Palestinian civilians stands at 42,334 killed and 95,921 wounded. At least 16,456 children and over 11,000 women are among the dead and wounded according to figures released by the UN. Over 1.9 million people, or over 80% of the Palestinian population, have been displaced across the Gaza Strip since October 7, UNRWA said. 
Israel also occupies all territories of the State of Palestine. It has also captured Golan Heights in Syria and occupies the Sinai Peninsula. In addition Israel has assassinated a number of Iranian citizens, most of whom are scientists working in Iran’s nuclear programme. 
 On 1 April this year Israel bombed Iran’s consulate in Syria killing seven people including a top commander and his deputy.  
Three days ago -on 2 October- Iran retaliated, bombarding Israel with hundreds of ballistic missiles. Israel and the Western media attempted to blackout coverage of the damage the missile-strikes caused. However, migrant workers in Israel were quick to send first-hand reports and pictures of damage caused, upending Western media attempts to cover up the situation.  
Among the targets hit during the Iranian strike was the HQ of Israel’s feared secret service ‘Mossad’. It led the Israeli government to threaten strikes against Iran. Iran in turn has warned of a strong response if Israel carries out further escalatory moves against it. 
The ‘Economic Times of 3 September, reported oil prices surged over 3% due to heightened Middle East tensions after Iran’s significant missile strike on Israel. The potential for escalating conflict threatens oil facilities and critical supply routes, raising fears of further disruptions. 
If the ongoing Middle East war escalates the entire oil producing region will go up in flames, send prices of fuel sky rocketing and adversely affecting the poorest nations on planet earth. 
The main destabilising factor to a peaceful world is clearly the state of Israel. It is an occupying force in an otherwise peaceful region. It continues annexing lands of sovereign states. In other words it is a clonising power. The UN has accused it of committing crimes of apartheid.  
The world cannot be endangered by a single country which is composed of a single race which commits all manner of crimes including crimes against humanity with impunity.  
The time has come for the countries of the world take practical steps to bring this belligerent state to book.  
The cold-blooded Israeli killing of over 16,456 Palestinian children cries to heaven for justice. It’s time to call for an economic boycott of Israel. There is a need for sanctioning this country, especially its leaders. 
We are hopeful our present government leaders, who long supported the Palestinian liberation struggle, will play a lead role in helping Palestinians achieve their freedom and prevent further destabilisation in the Middle East.