IMF, World Bank and IEA Form Joint Task Force to Address Middle East Energy Crisis

On March 1, the International Monetary Fund, World Bank Group and International Energy Agency announced a joint coordination group to tackle the economic and energy fallout from the Middle East war. They warned the conflict has caused one of the largest supply shortages in global energy markets. The institutions highlighted rising oil, gas and fertiliser prices and noted disruptions in helium, phosphate, aluminium and other commodities. They also cited tourism losses from flight interruptions at key Gulf hubs. The group will share data on energy markets, trade flows, fiscal pressures and inflation trends. It plans to offer targeted policy advice, concessional financing and risk mitigation tools. The partners aim to safeguard global stability, strengthen energy security and support recovery in the hardest-hit countries.

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