The International Monetary Fund, together with the International Energy Agency and the World Bank Group, issued a joint statement after a heads-level meeting of a coordination group set up in early April to align their response to the war in the Middle East and its energy and economic spillovers. The institutions characterised the shock as substantial, global and highly asymmetric, with energy importers, particularly low-income countries, disproportionately affected. The statement pointed to higher oil, gas and fertiliser prices, with knock-on concerns around food security and job losses, while noting that some oil and gas producers in the Middle East have suffered a sharp loss of export revenue. With shipping through the Strait of Hormuz not yet normalised and infrastructure damage disrupting supply, the institutions cautioned that key commodity supplies may take time to return towards pre-conflict levels and that fuel and fertiliser prices could remain elevated for a prolonged period, with broader implications from shortages of key inputs as well as displacement and reduced travel and tourism. The group shared updated assessments ahead of the International Energy Agency’s monthly Oil Market Report and the IMF’s World Economic Outlook due on April 14, and discussed the most affected countries and institutional responses. Teams are working jointly, including at country level, to provide tailored policy advice and, where needed, financial support from the IMF and the World Bank, while continuing to monitor and coordinate with other international organisations.
International Monetary Fund 2026-04-13
International Monetary Fund joins IEA and World Bank Group to coordinate support for countries hit by Middle East war energy shock
The International Monetary Fund, International Energy Agency and World Bank Group issued a joint statement describing the economic and energy shock from the war in the Middle East as substantial, global and highly asymmetric, with energy importers, particularly low-income countries, disproportionately affected. They highlighted elevated oil, gas and fertiliser prices, disruptions to key shipping routes and infrastructure, and risks to food security, employment, travel and tourism, while noting revenue losses for some regional producers. The institutions are updating assessments ahead of flagship reports and coordinating tailored policy advice and financial support, including at country level.