11 Nations Urge IMF and World Bank for Emergency Support Amid Middle East Conflict
11 nations call for coordinated IMF-World Bank support amid Middle East war risks
The Economic TimesImage: The Economic Times
Finance ministers from 11 countries, including the United Kingdom and Japan, have called for coordinated emergency support from the International Monetary Fund (IMF) and World Bank for nations affected by the ongoing Middle East conflict. They warn that disruptions could threaten global energy security and economic stability.
- 0111 countries demand coordinated emergency support from the IMF and World Bank.
- 02The statement highlights risks to global energy security and supply chains.
- 03Ministers reaffirm support for Ukraine and pressure on Russia.
- 04The conflict's impact on growth and inflation is expected to persist.
- 05Countries involved include Australia, Finland, Ireland, Japan, and others.
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Finance ministers from 11 countries, including the United Kingdom and Japan, have issued a joint statement calling for coordinated emergency support from the International Monetary Fund (IMF) and World Bank. They emphasized the need for tailored assistance for nations impacted by the ongoing conflict in the Middle East, citing serious risks to global energy security and economic stability. The statement warned that renewed hostilities or disruptions in the Strait of Hormuz could exacerbate these risks. Furthermore, the ministers reaffirmed their support for Ukraine and their commitment to maintaining economic pressure on Russia, which continues to affect the global economy. The countries that signed the statement include Australia, Finland, Ireland, Japan, The Netherlands, New Zealand, Norway, Poland, Spain, Sweden, and the United Kingdom.
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This call for support could lead to financial assistance for countries struggling due to the conflict, potentially stabilizing their economies and mitigating disruptions.
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