W’Bank, IMF, WTO, Others Meet over US, Iran War, Say Conflict Affecting Most Vulnerable Countries
Ndubuisi Francis in Abuja
Heads of the World Bank, International Monetary Fund (IMF), World Trade Organisation (WTO), and the International Energy Agency (IEA) at the weekend met in Washington D.C., United States of America, to assess the conflict in the Middle East, with a warning that the war was generating substantial and highly asymmetric impacts on energy supplies, food security, and economic activity across countries and regions.
They noted that while the global economy continued to show resilience, the effects of the conflict were disproportionately affecting the most vulnerable countries through higher fuel and fertiliser prices, increased uncertainty, and risks to jobs and livelihoods.
In a joint statement signed by the World Bank President, Ajay Banga; IMF Managing Director, Kristalina Georgieva; WTO Director General, Dr. Ngozi Okonjo-Iweala; and the Executive Director of IEA, Dr. Fatih Birol, the multilateral agencies said they were tracking and analysing measures taken by governments to address the economic impact of the conflict, with a view to promoting transparency, sharing lessons, and identifying emerging risks.
