The heads of the International Energy Agency, International Monetary Fund, and World Bank Group have come together to ensure a coordinated response to the energy and economic impacts of the war in the Middle East.

Higher oil, gas and fertilizers prices, and global supply chains including of helium, phosphate, aluminium are affected, and the resulting market volatility, weakening of currencies in emerging economies, and concerns about inflation expectations raise the prospect of tighter monetary stances and weaker growth.

The joint group will assess the severity of impacts across countries and regions through coordinated data sharing on energy markets and prices, trade flows, fiscal and balance of payments pressures, inflation trends, export restrictions of key commodities, and supply chain disruptions.

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