The IMF, the World Bank Group, and the World Food Programme have pledged coordinated support to countries affected by the Middle East crisis, focusing on economic stability and food security.

This was disclosed in a joint statement on Thursday. According to the statement, the heads of the institutions met to discuss the global economic and food security impacts of the war in the Middle East.

The institutions said the  Middle East war was upending lives and livelihoods in the region and beyond.

They said the war had already triggered one of the largest disruptions to global energy markets in modern history.

“Sharp increases in oil, gas, and fertiliser prices, together with transport bottlenecks, will inevitably lead to rising food prices and food insecurity.

“The burden will fall most heavily on the world’s most vulnerable populations, particularly in low‑income, import‑dependent economies,” said the statement.

They said spikes in fuel prices and potential sharp increases in food prices were especially concerning in countries with constrained fiscal space and already high debt burdens.

This, they said, had led to a reduction in governments’ ability to protect vulnerable households.

“Our institutions will continue to monitor developments closely and coordinate the use of all available tools to support those impacted by the crisis.

“In accordance with our respective mandates, and building on existing response mechanisms, we will provide support to safeguard lives and livelihoods.

“ We will also  lay the foundations for a resilient recovery that delivers stability, growth and jobs,” they explained.

(NAN)