The International Monetary Fund (IMF), World Bank, and World Food Programme have cautioned that the ongoing conflict in the Middle East has caused a major disruption in global energy markets, which is expected to drive up food prices and worsen food insecurity worldwide.
In a joint statement, the leaders of the three organisations said the impact of rising food costs will be felt most severely by vulnerable populations, especially in low-income, import-dependent countries.
“The conflict is disrupting lives and livelihoods across the region and beyond, triggering one of the most significant shocks to global energy markets in recent history,” the statement said.
They warned that sharp increases in oil, gas, and fertiliser prices, along with transportation bottlenecks, are likely to push food prices higher and deepen food insecurity.
The organisations added that they will closely monitor the situation and coordinate efforts using all available tools to support affected communities.
They also highlighted concerns that rising fuel and food costs could strain countries already dealing with limited fiscal capacity and high debt, making it harder for governments to protect vulnerable households.
The agencies reaffirmed their commitment to providing support within their mandates to safeguard livelihoods and promote a stable, resilient recovery focused on growth and job creation.
The statement follows a recent agreement between the US and Iran on a two-week ceasefire, after hostilities that began on February 28. The conflict escalated after the US and Israel launched strikes on Iran over its refusal to abandon its nuclear fuel stockpile.
