April 10 - World Bank President Ajay Banga told Reuters in an interview on Friday that a war in the Middle East would have ripple effects on the global economy, even if the fragile ceasefire announced by U.S. President Donald Trump holds.

He added that the damage would be much deeper if the ceasefire collapsed and the conflict escalated.

On Tuesday, Banga said that global growth could fall by three to four percentage points in the baseline scenario if the war ends early, and by as much as one percentage point if the war continues. He said inflation could rise by 200 to 300 basis points, with a much larger impact—up to 0.9 percentage points—if the war continues.

The war, which has killed thousands of people across the Middle East, has caused oil prices to rise by 50 percent, disrupting supplies of oil, gas, fertilizers, helium and other commodities, as well as damaging tourism and air travel.