Sri Lanka, March 4 -- The International Monetary Fund (IMF) says it is closely monitoring developments in the Middle East amid escalating tensions in the region.

In a statement issued from Washington, DC on March 3, the IMF said it has so far observed disruptions to trade and economic activity, surges in energy prices and increased volatility in global financial markets.

Lake House - Associated Newspapers of Ceylon Limited The Fund noted that the situation remains highly fluid and is adding to an already uncertain global economic environment.

However, the IMF said it is still too early to assess the full economic impact on the region and the global economy, stressing that the consequences will depend on the extent and duration of the c...