US EditionIEA, IMF and World Bank to coordinate response to Middle East war’s impact
The three institutions will assess country-by-country damage and coordinate financing and policy support as energy and food prices rise, officials said.
- Managing Director Paschal Donohoe announced that the World Bank, the International Monetary Fund , and the International Energy Agency are coordinating aid to address economic fallout from the war on Iran.
- Since the February 28 strikes on Iran by the United States and Israel, Tehran has blocked the Strait of Hormuz, causing energy and fertilizer supply shortages that spike global prices.
- In Africa, South Asia, and the Middle East, the IMF warned that low-income countries face 'dangerous' debt shocks, as food accounts for about 36 percent of consumption on average.
- Nations including Pakistan, Indonesia, and Bangladesh have implemented fuel-saving measures, while the World Bank offers development assistance and immediate loans to address member nations' urgent budgetary needs.
- Donohoe remains 'extremely concerned' about inflation, jobs, and food security, noting that financial response talks are 'underway' but unlikely to conclude for 'a number of weeks.
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57 Articles
The IMF was planning a global growth of 3.3% in 2026 before the scale of the war, but now indicates that the number will be revised down due to the energy shock.
The International Energy Agency (IEA), the International Monetary Fund (IMF) and the World Bank Group (WBG) agreed to form a coordination group to respond to the energy and economic impacts of the war in the Middle East.
IEA, IMF, World Bank to coordinate response to Middle East war's impact
The heads of the International Energy Agency (IEA), International Monetary Fund (IMF) and the World Bank on Wednesday said they will form a coordination group to maximize their response to the significant economic and energy impacts of the war in the Middle East.In a joint statement, the three global bodies noted that the war had caused major disruptions in the region and triggered one of the largest supply shortages in the history of the glo…
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