In a joint statement issued on Wednesday, the leaders of the three institutions said the conflict has already caused one of the largest disruptions to global energy markets in modern history. Sharp increases in oil, gas and fertiliser prices, combined with transport bottlenecks, are expected to push food prices higher and exacerbate food insecurity worldwide. \u201cThe Middle East war is upending lives and livelihoods in the region and beyond,\u201d the statement said.<\/p>\n
<\/p>\n
The institutions warned that the burden will fall disproportionately on the world\u2019s most vulnerable populations, particularly low\u2011income and import\u2011dependent countries. Rising fuel costs and potential spikes in food prices are expected to strain household budgets and limit access to basic goods.<\/p>\n
<\/p>\n
The organisations said the situation is especially concerning in countries where fiscal space is already constrained and debt levels are high. These pressures reduce governments\u2019 ability to shield poor and vulnerable households from rising costs. \u201cSpikes in fuel prices and potential sharp increases in food prices are especially concerning where fiscal space is constrained and debt burdens are already high,\u201d the statement said.<\/p>\n
<\/p>\n
The IMF, World Bank and WFP pledged to closely monitor developments and coordinate their responses to mitigate the impact of the crisis. They said they would use all available tools and existing response mechanisms to support affected countries and communities. \u201cIn accordance with our respective mandates, we will continue to provide support to safeguard lives and livelihoods,\u201d the statement said, adding that efforts would also focus on laying the foundations for a resilient recovery.<\/p>\n
<\/p>\n
–IMF\/ChannelAfrica–<\/p>\n","protected":false},"featured_media":31241,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-31240","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The heads of the International Monetary Fund (IMF) , the World Bank Group and the World Food Programme (WFP) have warned that the war in the Middle East is triggering severe economic and food security risks with far\u2011reaching global consequences.","published_date":"","news_description":"The heads of the International Monetary Fund (IMF) , the World Bank Group and the World Food Programme (WFP) have warned that the war in the Middle East is triggering severe economic and food security risks with far\u2011reaching global consequences.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/31240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/31240\/revisions"}],"predecessor-version":[{"id":31242,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/31240\/revisions\/31242"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/31241"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=31240"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=31240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}