Three international organizations decide to establish a coordination team to address the economic impact of the Middle East conflict

People’s Finance News, April 2: The heads of the International Energy Agency, the International Monetary Fund, and the World Bank issued a joint statement on April 1 agreeing to set up a coordination group to maximize the role of each institution and address the impact of the fighting in the Middle East on energy and the economy. The statement said the coordination group will assess how much different countries and regions are affected by collecting and sharing data on energy markets and prices, trade flows, pressure on fiscal and balance-of-payments positions, inflation trends, restrictions on exports of key commodities, and supply chain disruptions. At the same time, the group will coordinate and oversee response mechanisms, including: providing targeted policy recommendations, assessing potential financing needs and providing corresponding financial support, and appropriately using risk mitigation tools. The group will also mobilize relevant stakeholders, such as other multilateral, regional, and bilateral partners, to provide coordinated support to countries in need. (CCTV News)