Global Institutions Vow Coordinated Response to Middle East War’s Economic Fallout

WASHINGTON, July 8, 2026 (KPT) — The heads of the International Energy Agency, International Monetary Fund, World Bank Group and World Trade Organization pledged to step up coordination to address the energy, trade and economic impact of the war in the Middle East, following a high‑level meeting in Washington.

The four institutions said the global economy had shown resilience to the shock, though growth slowdowns and inflation pressures were evident in several countries. The impact remained uneven, affecting energy supplies, food security, commodity markets and overall economic activity, raising concerns about stability.

The statement urged progress toward resolving the conflict and reopening the Strait of Hormuz, noting that fuel and fertilizer prices had eased since June but warning that uncertainty remained high. Energy markets and trade flows continued to face strains, requiring vigilance and collective action.

The agencies called on governments and the international community to uphold freedom of navigation, support recovery, protect jobs and livelihoods, and strengthen energy and food security through improved port infrastructure and trade facilitation.

They pledged to monitor developments closely, adapt support to vulnerable countries, and help build resilience against future shocks. The coordination group, established in April, will continue to align institutional responses to safeguard growth, stability and international solidarity.