World Bank in Crisis-Aid Talks With 30–40 Countries as Banga Warns of Diesel and Fertiliser Price Shocks
The World Bank is in talks with 30 to 40 countries on crisis-response packages as nations confront shock waves from the Middle East war driving up diesel and fertiliser prices, President Ajay Banga told Reuters in Bangkok ahead of the IMF–World Bank annual meetings. The fuel supply disruption caused by the conflict and impeded tanker traffic around the Strait of Hormuz could produce stagflation in developing economies, he said, calling energy “the first domino” for fuel-import-dependent countries. Banga unveiled a crisis financing facility to be announced at the meetings: an initial $25 billion from the Bank's existing loan portfolio, with a further $35 billion available for reallocation, bringing deployable funds to roughly $50–60 billion. He estimated developing countries face about $400 billion in external debt payments due in 2026, with interest accounting for about a third, and warned that a possible super El Niño could push up prices of staple foods including corn, cassava and potatoes.
(Source: Reuters)
Source: Reuters
Published by GSM · USA (original Chinese edition)
Photo: 世界银行集团总部大楼，CC BY-SA 3.0（Wikimedia Commons）
