Leading global financial and economic institutions have called for stronger international cooperation to safeguard food and energy security, warning that the ongoing conflict IMF, World Bank, WTO, IEA continues to pose risks to global economic stability despite signs of resilience across many economies.
The appeal followed a high-level meeting involving the heads of the International Energy Agency (IEA), International Monetary Fund (IMF), World Bank Group and World Trade Organisation (WTO), where participants reviewed recent developments in global energy, trade and economic conditions.
In a joint statement issued after the meeting, the organisations said discussions focused on assessing the impact of the war in the Middle East, particularly on vulnerable countries, while also exploring ways to strengthen coordinated support for economies facing mounting challenges.
The meeting formed part of a high-level coordination group established in April to align the institutions' responses to the energy, trade and economic consequences arising from the conflict in the region.
Beyond reviewing the broader global outlook, the institutions said they examined the situation in countries most exposed to the crisis and reaffirmed their commitment to providing targeted support where necessary.
They also urged governments and the international community to intensify efforts aimed at supporting economic recovery, protecting jobs and livelihoods, and improving resilience against future global shocks.
The organisations stressed that strengthening food and energy security remains a priority, calling for improved port infrastructure, enhanced trade facilitation and sustained international cooperation to ensure stable supply chains.
According to the joint statement, "The global economy has been broadly resilient to the shock from the war in the Middle East, even as some economies have experienced a slowdown in growth and an uptick in inflation. Overall, the impact has been highly uneven, affecting energy supplies, food security, various commodities, and economic activity across many countries and regions and creating deeper concerns about growth and price stability."
The institutions noted that while some pressures have eased since their previous meeting in June, uncertainty surrounding the conflict remains elevated.
They said, "We encourage further progress toward a resolution to the conflict and the reopening of the Strait of Hormuz. Fuel and fertilizer prices dropped since we last met in June. However, uncertainty remains high, and the impacts of the war could linger. Energy markets and transit of goods are still facing strains. Governments and the international community should remain vigilant and continue to work together to uphold the principle of freedom of navigation in the Strait and globally, support economic recovery, protect jobs and livelihoods, strengthen energy and food security, including through improving port infrastructure and trade facilitation, and increase broader resilience to future shocks."
The organisations further pledged to maintain close collaboration in monitoring global developments and to adjust their support as conditions evolve.
According to the statement, "We will continue to work with each other and with our members to closely monitor energy, trade, and economic developments. We will strengthen our readiness to act further if needed and will continue adapting our support to countries as the situation evolves. That includes helping them build greater energy, food, trade, and economic resilience."
The joint position underscores growing concerns among multilateral institutions that prolonged geopolitical tensions could continue to weigh on global trade, supply chains and inflation, particularly in developing economies that remain vulnerable to fluctuations in energy and food prices.