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- Joint statement by the heads of the International Monetary Fund, the World Bank Group and the World Food Programme
WASHINGTON, USA – The heads of the International Monetary Fund (IMF), the World Bank Group (WBG) and the World Food Programme (WFP) met to discuss the global economic and food security impacts of the war in the Middle East. They issued the following statement:
The Middle East war is upending lives and livelihoods in the region and beyond. It has already triggered one of the largest disruptions to global energy markets in modern history. Sharp increases in oil, gas, and fertiliser prices, together with transport bottlenecks, will inevitably lead to rising food prices and food insecurity.
The burden will fall most heavily on the world’s most vulnerable populations, particularly in low‑income, import‑dependent economies. Spikes in fuel prices and potential sharp increases in food prices are especially concerning where fiscal space is constrained and debt burdens are already high, reducing governments’ ability to protect vulnerable households.
Our institutions will continue to monitor developments closely and coordinate the use of all available tools to support those impacted by the crisis.
In accordance with our respective mandates, and building on existing response mechanisms, we will provide support to safeguard lives and livelihoods, and to lay the foundations for a resilient recovery that delivers stability, growth and jobs.
