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IMF, World Bank, and IEA to Collaborate on Iran Crisis Response
On April 2, the International Monetary Fund, the World Bank, and the International Energy Agency (IEA) announced that they will work together to address the economic impacts of the war in Iran. According to a joint statement released on Wednesday, these organizations agreed to share data, coordinate policy recommendations, and mobilize relevant stakeholders to provide support to countries in need. They will also assess the potential funding needs of various nations. The impacts are significant, global, and highly asymmetric, particularly affecting energy-importing countries, especially low-income nations, which are experiencing disproportionate shocks.