Global financial institutions are joining forces to combat the escalating fuel crisis stemming from the Middle East conflict.

• The International Monetary Fund (IMF), the World Bank, and the International Energy Agency (IEA) have formed a joint coordination group.
• They aim to address the severe energy and economic impacts, which are disproportionately affecting low-income countries, including Kenya.
• The disruptions extend beyond fuel to supply chains for helium, phosphate, and aluminum, and are impacting tourism and trade, with Kenya reporting tea export losses exceeding Ksh3.1 billion.