[ecr] Held on Friday as part of the annual assemblies of the World Bank Group and the International Monetary Fund (IMF), the meeting gathers Algeria, Ghana, the Islamic Republic of Iran, Libya, Morocco, Pakistan, and Tunisia.

"Despite the encouraging signs, major causes cloud the world economy, which has shifted downward since our last meeting, said Taleb in his speech given during this meeting. 

 Indeed, regional risks stemming from the aggression of the Zionist entity against Palestine and Lebanon have reached an unprecedented level in several decades," he he stressed. 

The scale of the humanitarian catastrophe, marked by unfathomable human losses, suffering, hunger, childhood diseases, as well as the massive displacement of populations in Palestine and Lebanon, "has no equal," deplored Taleb.

Although all tragic wars, the tragedy committed against Palestine and Lebanon "has a unique and truly unprecedented nature whose consequences will be felt across multiple generations."

In this regard, he called for peace and an immediate end of all hostilities which, he said, are the cornerstones for global prosperity and sustainable economic and social stability.

Taleb further addressed the alarming situation of many low-income and economically vulnerable countries, in this uncertain global context, subject to multiple shocks.

Facing challenges such as food insecurity, poverty, climate disasters, and severe development issues, these countries experience high debt levels and burdensome debt servicing costs, he recalled, emphasizing that the rapid reduction of foreign aid and concessional loans from traditional sources "significantly" hampers Sustainable Development Goals (SDGs) by 2030. [/ecr]