IEA, IMF, and World Bank Form Coordination Group

Tashkent, Uzbekistan (UzDaily.com) — Leaders of the International Energy Agency (IEA), the International Monetary Fund (IMF), and the World Bank Group (WBG) have announced the creation of a joint coordination group. The initiative aims to unify the institutions’ efforts to effectively respond to the energy and economic consequences of the ongoing war in the Middle East.

The conflict has caused extensive destruction and triggered one of the largest disruptions in the global energy market. The greatest impact is felt by low-income, energy-importing countries. Prices for oil, gas, and fertilizers are already rising, raising concerns about food security.

Global supply chains have been disrupted, affecting helium, phosphates, aluminum, and other commodities, as well as air transport at key Persian Gulf airports, impacting tourism. Market volatility, currency depreciation in developing countries, and rising inflation expectations further increase the risk of tighter monetary policy and slower economic growth.

Amid high uncertainty, the IEA, IMF, and World Bank emphasize the importance of joint monitoring, coordinated analysis, and harmonized support for governments, particularly in countries most vulnerable to the conflict’s effects and with limited economic capacity.

The coordination group will assess the war’s impact on individual countries and regions by sharing data on energy prices, trade flows, budget and balance-of-payments positions, inflation, export restrictions, and supply chain disruptions.

It will develop policy recommendations, evaluate financing needs, provide financial support—including concessional financing—and utilize risk mitigation tools. The group also plans to engage other international, regional, and bilateral organizations to ensure comprehensive and effective support for affected nations.

Leaders of the IEA, IMF, and World Bank reaffirmed their commitment to working together to maintain global economic and financial stability, strengthen energy security, support recovery efforts in affected countries, stimulate economic growth, and create jobs through the implementation of reforms.