The group will assess the severity of impact 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, the three organisations said in a joint statement.
The IEA, the IMF and the World Bank Group will form a coordination group to maximise their institutions’ response to the energy and economic impacts of the Iran war.
The group will assess the severity of impact through coordinated data sharing on energy markets and prices, trade flows, fiscal and balance of payments pressures, inflation, export restrictions of key commodities and supply chain disruptions.
It will coordinate a response mechanism that may include targeted policy advice, assessment of potential financing needs and related provision of financial support (including through concessional financing) and use of risk mitigation tools as appropriate.
It will mobilise relevant stakeholders, including other multilateral, regional and bilateral partners, to deliver a coordinated and efficient support to countries in need.
The group will work with, and draw on, other international organisations’ expertise as needed.
Fibre2Fashion News Desk (DS)
