World Bank Director-General Pascal Donohoe expressed his “deep concerns” about the effects of the Middle East conflict on the global economy in an interview with the French news agency AFP on Wednesday, particularly at a time when many countries are already struggling due to a prolonged series of global crises.
Donohoe said, “We are seriously worried that this war will further exacerbate existing problems such as global inflation, job losses, and food shortages. However, our efforts and preparations are ongoing to take immediate and appropriate measures to address these challenges.”
He added, “We are consulting with several governments and countries to understand their needs, and I expect that in the coming weeks we will have more information.”
The World Bank will especially need to assess, with the help of its spring meetings scheduled in Washington from April 12 to 17, the potential challenges we may face in the near future.
Donohoe stated that, for now, “We are trying to determine how much funding we have available and which countries can be included so that we can assist other nations affected by the short-term impacts of the war in Iran.”
