The heads of the International Energy Agency (IEA), International Monetary Fund (IMF), and World Bank Group will meet on Monday to discuss the energy crisis triggered by ‌the Iran war. 

Announcing the move, IEA Executive Director Fatih Birol said in a X post: "This energy crisis calls for all hands on deck & international cooperation. 

Last week, Birol, ​IMF Chief Kristalina Georgieva and the World Bank's Ajay Banga had agreed to form a coordination group to maximise their institutions’ response to the energy and economic impacts of the war. 

They said: "The Middle East war has caused major disruptions to lives and livelihoods in the region and triggered one of the largest supply shortages in global energy market history. The impact is substantial, global, and highly asymmetric, disproportionately affecting energy importers, in particular low-income countries. It is already transmitted through higher oil, gas and fertilizers prices, and is triggering concerns about food prices as well. Global supply chains—including of helium, phosphate, aluminum, and other commodities—are affected, as is tourism due to flight disruptions at key Gulf hubs. The resulting market volatility, weakening of currencies in emerging economies, and concerns about inflation expectations raise the prospect of tighter monetary stances and weaker growth.

"At these times of high uncertainty, it is paramount that our institutions join forces to monitor developments, align analysis, and coordinate support to policymakers to navigate this crisis. This is especially the case for countries that are most exposed to the downstream impacts from the war and those confronting more limited policy space and higher levels of debt," they said. 

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