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World Bank Official Sounds Alarm Over Devastating Consequences of War on Iran

A senior World Bank official has expressed deep unease about the impending economic fallout from the war on Iran, citing potential disruptions to inflation, employment, and food availability. In a bid to mitigate the crisis, the organisation is engaging in urgent discussions with its member states to identify pressing needs and devise a coordinated response. This effort comes as the World Bank forges a new alliance with the International Monetary Fund and the International Energy Agency to streamline aid efforts. According to Managing Director Paschal Donohoe, countries in Asia and Africa are particularly susceptible to the energy, price, and supply chain shocks triggered by the crisis. Donohoe indicated that the organisation is currently consulting with governments worldwide to gauge their needs, with a clearer picture expected to emerge within the coming weeks.

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