IMF, World Bank, IEA Issue Joint Warning on Middle East Crisis Impacting Global Food Security and Jobs

The International Monetary Fund (IMF), World Bank Group, and International Energy Agency (IEA) have collectively highlighted the severe global economic consequences stemming from the intensifying Middle East crisis. They caution that the ongoing conflict is exacerbating food insecurity, leading to job losses, and fostering widespread economic instability.

Following a critical coordination meeting at the outset of the 2026 Spring Meetings in Washington on Monday, the leaders of these three major international bodies issued a joint statement. They described the conflict as having initiated "substantial, global and highly asymmetric" shocks, with energy-importing and low-income nations anticipated to bear the brunt of the impact.

According to their assessment, the rapid escalation of oil, gas, and fertilizer prices is already transmitting the conflict's effects across various economies. This development has heightened concerns about deteriorating food security and a rise in unemployment rates worldwide.

The institutions noted that while Middle Eastern oil-producing nations are navigating disruptions to their production and export revenues, countries reliant on energy imports are facing increased cost pressures, worsening fiscal situations, and elevated risks to the livelihoods of their populations.

"As we noted earlier this month, the impact of the war is substantial, global, and highly asymmetric, disproportionately affecting energy importers, in particular low-income countries. The shock has led to higher oil, gas and fertilizer prices, triggering concerns about food security and job losses as well."

"Some oil and gas producers in the Middle East have also seen a dramatic loss of export revenue."

"The situation remains very uncertain, and shipping through the Strait of Hormuz is yet to normalise. Even after a resumption of regular shipping flows through the Strait, it will take time for global supplies of key commodities to move back towards their pre-conflict levels and fuel and fertiliser prices may remain high for a prolonged period given the damage to infrastructure."

"Due to supply disruptions, shortages of key inputs are likely to have implications for energy, food, and other industries."

They further added, "War has also forcibly displaced people, impacted jobs, and reduced travel and tourism, which may take time to reverse."

The three organizations emphasized that their engagement with national governments is being intensified. This collaboration aims to deliver customized policy solutions and financial assistance designed to stabilize economies and provide protection for the most vulnerable populations.

"Today, we shared our latest assessments, ahead of the release of the IEA’s monthly Oil Market Report and IMF’s World Economic Outlook."

"We also discussed the situations of the countries most affected by the shock as well as the responses by our institutions. Our teams are working closely, including at country level, to leverage our respective expertise and help countries through tailored policy advice and, in the case of the IMF and World Bank, financial support where needed."

"We will continue to monitor closely and assess the impact of the war on energy markets, the global economy and individual countries, and to coordinate our response and support to our member countries working with, and drawing on, other international organisations’ expertise as needed to lay the foundations for a resilient recovery that delivers stability, growth and jobs."