Story perspectives

Middle East Conflict Spurs IMF Requests Amid Rising Prices

3/22/2026

Center

Egypt and Pakistan Seek IMF

The ongoing Middle East conflict is pushing Egypt and Pakistan toward International Monetary Fund (IMF) assistance as energy and food prices rise.
Pakistan is implementing emergency measures, including school closures, while Sri Lanka reduces working hours.
The International Energy Agency warns the conflict threatens global energy security, with Asian markets facing higher oil prices.
Indonesia is seeking budget cuts to manage its fiscal deficit amid rising import costs.

Right

Iran Escalates Energy Crisis

Brent crude rose past $115 per barrel after attacks on energy infrastructure in Iran and Qatar.
The Israeli strike on Iran's South Pars gas field and Iran's attack on Ras Laffan heighten fears of prolonged supply disruptions.
Experts warn these conflicts could have lasting impacts on global energy affordability.
Supply cuts could reach 12 million barrels per day, worsening the energy crisis as demand stays inelastic.

Left

Governments Address Hunger

The conflict in the Middle East disrupts supply chains via the Strait of Hormuz, affecting oil, gas, and fertiliser exports.
Fertiliser shortages hit Sudan, Sri Lanka, and Tanzania, driving up food costs and increasing hunger risk.
The United Nations warns that nearly 45 million more people could face acute hunger if the situation persists.
Governments must act swiftly to mitigate impacts, including price caps and rationing protocols, to protect economies.

History

Historical Context

The 1973 Oil Crisis began when OAPEC imposed an embargo against nations supporting Israel during the Yom Kippur War, leading to a 400% surge in oil prices from $3 to nearly $12 per barrel. This crisis triggered economic turmoil, particularly in the U.S., where inflation soared by 25%. The long-term effects continue to resonate today, as rising energy prices threaten global stability.

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Egypt and Pakistan Seek IMF

The ongoing Middle East conflict is pushing Egypt and Pakistan toward International Monetary Fund (IMF) assistance as energy and food prices rise.
Pakistan is implementing emergency measures, including school closures, while Sri Lanka reduces working hours.
The International Energy Agency warns the conflict threatens global energy security, with Asian markets facing higher oil prices.
Indonesia is seeking budget cuts to manage its fiscal deficit amid rising import costs.

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