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The heads of International Monetary Fund, World Bank Group and World Food Programme have pledged urgent support to address a worsening global economic and food security crisis triggered by the war in the Middle East.
The leaders of the three institutions met to assess the far-reaching consequences of the conflict, warning that disruptions to energy markets were already spilling over into global food systems.
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In a joint statement issued on Monday, the institutions said the war was already “upending lives and livelihoods” both within the region and beyond.
They pointed to sharp increases in oil, gas and fertiliser prices, as well as transport bottlenecks, as key pressures likely to drive food prices higher and deepen food insecurity worldwide.
The statement warned that the burden would fall most heavily on vulnerable populations, particularly in low-income countries that depend on imports.
“Many of these nations are already grappling with limited fiscal capacity and rising debt levels, leaving governments with fewer options to shield citizens from escalating costs,” the institutions said.
They cautioned that rising fuel prices could further strain fragile economies, while surging food costs risk worsening hunger and poverty across multiple regions.
In response, the three organisations committed to closely monitoring developments and coordinating efforts to deploy resources effectively.
They stressed the need for swift action to cushion immediate shocks while laying the groundwork for long-term recovery.
“Our institutions will continue to coordinate the use of all available tools to support those impacted by the crisis,” the statement said.
The leaders also underscored the importance of building resilience, pledging to support measures aimed at promoting economic stability, sustainable growth and job creation in the aftermath of the crisis.
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