IMF, World Bank, IEA warn that fuel prices may remain high for prolonged period
The heads of the International Energy Agency (IEA), International Monetary Fund (IMF), and World Bank Group have jointly warned that fuel and fertiliser prices may remain high for a prolonged period even if regular shipping flows resume through the Strait of Hormuz. In a statement after a meeting of the coordination group the three entities established in early April to maximise their response to the energy and economic impacts of the war in the Middle East, they indicated that the negative effects could linger given the damage to infrastructure as a result of the conflict.
The heads of the International Energy Agency (IEA), International Monetary Fund (IMF), and World Bank Group have jointly warned that fuel and fertiliser prices may remain high for a prolonged period even if regular shipping flows resume through the Strait of Hormuz. In a statement after a meeting of the coordination group the three entities established in early April to maximise their response to the energy and economic impacts of the war in the Middle East, they indicated that the negative effects could linger given the damage to infrastructure as a result of the conflict.
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