
The Energy Shock Is Testing Government Budgets
June 18, 2026
New policy tracker shows many governments pursuing costly responses to fuel and food price hikes, leaving less room to address future challenges
The IMF Global Policy Tracker is a high-frequency, cross-country database of economic policy measures announced in response to the war in the Middle East since February 2026. The data is compiled using AI-enabled web scanning and country teams inputs.
Export bans for fossil fuel, export taxes
Release of reserves, rationing, remote work and travel restrictions
Liquidity provision, macro-prudential measures
fx interventions, currency swap arrangements
Policy rate decisions (hike, hold, cut)
Fuel price caps and price monitoring
State-backed loans to companies
Reduction of fuel excise duty, broad-based tax cut
Subsidies to energy producers, distributors, and transfers to households
A broad range of policy actions in one consistent taxonomy. Every measure is classified the same way, supporting comparability across countries and over time.
Fiscal Measures Have Dominated the Response so far, but the Policy Mix Varies by Region
(Number Of Tracked Measures)
(Distribution Of Measures)

June 18, 2026
New policy tracker shows many governments pursuing costly responses to fuel and food price hikes, leaving less room to address future challenges

June 15, 2026
An overall resilient world economy masks significant differences among countries and regions. Energy importers and countries with limited policy space are most vulnerable

April 15, 2026
Middle East conflict intensifies global uncertainty at a time of strained public finances, underscoring the need for policies that preserve future stability

April 14, 2026
The Middle East conflict halted growth momentum. The right policies and stronger global cooperation are needed to contain the damage.
WEO
April 2026
FM
April 2026
GFSR
April 2026
REO
April 2026
WP
December 2025
WP
January 2024
May 29, 2026
* Other international organizations have produced their own policy trackers. Users may find these resources of interest. The IMF is not responsible for the content, accuracy, or maintenance of these external trackers, and their inclusion here does not constitute endorsement. Please review the IMF's full disclaimer here. A link to the World Trade Organization's tracker will be added soon.