Joint Statement by the Heads of the International Energy Agency, International Monetary Fund, and World Bank Group
IMF News, April 13, 2026
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- Joint Statement by the Heads of the International Energy Agency, International Monetary Fund, and World Bank Group
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Bibliographic details
- Published: April 13, 2026
Overview
- Press Release No. 26/117
- Date: April 13, 2026
- Venue: Washington
- Purpose: Heads of the International Energy Agency (IEA), International Monetary Fund (IMF), and World Bank Group (WBG) met as part of the coordination group established in early April to maximize institutional response to the energy and economic impacts of the war in the Middle East.
- Upcoming releases referenced: IEA’s monthly Oil Market Report and IMF’s World Economic Outlook, due April 14, 2026.
Key findings and assessments
- The impact of the war is characterized as "substantial, global, and highly asymmetric, disproportionately affecting energy importers, in particular low-income countries."
- The shock has led to higher oil, gas and fertilizer prices, with associated concerns:
- Food security risks.
- Job losses.
- Some oil and gas producers in the Middle East have experienced "a dramatic loss of export revenue."
- Shipping through the Strait of Hormuz is "yet to normalize."
- Even after resumption of regular shipping flows, global supplies of key commodities will take time to move back towards pre-conflict levels.
- Fuel and fertilizer prices may "remain high for a prolonged period given the damage to infrastructure."
- Supply disruptions and shortages of key inputs are likely to affect energy, food, and other industries.
- The war has forcibly displaced people, impacted jobs, and reduced travel and tourism, with recovery expected to take time.
Uncertainties and scenarios highlighted
- The situation is described as "very uncertain."
- Timeline risks:
- Normalization of shipping through the Strait of Hormuz is not assured in the near term.
- Even with shipping normalization, a lag is expected before commodity supplies return toward pre-conflict levels.
- Prolonged high prices are possible due to infrastructure damage.
Institutional response and coordination
- The IEA, IMF, and WBG are:
- Sharing latest assessments.
- Discussing situations of countries most affected by the shock.
- Coordinating responses and support to member countries.
- Operational approach:
- Teams are working closely, including at country level, to leverage respective expertise.
- The IMF and World Bank can provide tailored policy advice and, where needed, financial support.
- The coordination will draw on other international organizations’ expertise as needed.
- Commitment: "We will continue to monitor closely and assess the impact of the war on energy markets, the global economy and individual countries, and to coordinate our response and support to our member countries—working with, and drawing on, other international organizations’ expertise as needed to lay the foundations for a resilient recovery that delivers stability, growth and jobs."
Policy implications and priorities implied by the statement
- Prioritize assistance to energy importers, particularly low-income countries, facing asymmetric impacts.
- Address elevated oil, gas and fertilizer prices to mitigate food security and job loss risks.
- Provide targeted financial support and policy advice where country circumstances require IMF and World Bank intervention.
- Coordinate across energy (IEA), macroeconomic/financial (IMF), and development/financing (WBG) expertise to design resilient recovery strategies.
- Monitor shipping and infrastructure developments affecting supply chains, with contingency planning for prolonged disruptions.
Institutional descriptions (from the statement)
- International Energy Agency: Founded in 1974; three main pillars include ensuring global energy security; expanding energy cooperation and dialogue; and supporting a secure, affordable and sustainable energy future. Website: https://www.iea.org/.
- International Monetary Fund: Global organization supporting economic growth and prosperity for all of its 191 member countries through policies promoting financial stability and monetary cooperation. Website: https://www.imf.org
- World Bank Group: Works to create a world free of poverty on a livable planet through financing, knowledge, and expertise; consists of IBRD, IDA, IFC, MIGA, and ICSID. Websites: www.worldbank.org, ida.worldbank.org/en/home, www.miga.org, www.ifc.org, and www.icsid.worldbank.org.
Media contacts (as listed)
- IEA: press@iea.org
- IMF: media@imf.org
- World Bank Group: press@worldbank.org
- IMF press officer: Julie Ziegler; Phone: +1 202 623-7100; Email: MEDIA@IMF.org; @IMFSpokesperson
Source: Joint Statement by the Heads of the International Energy Agency, International Monetary Fund, and World Bank Group, April 13, 2026 (Press Release No. 26/117).