IMF, World Bank and UN food agency say war is increasing food prices, insecurity

The World Bank, International Monetary Fund and the U.N. World Food Programme warned on Wednesday that sharp increases in oil, natural gas and

fertilizer prices triggered by the war in the Middle East will inevitably cause rising food prices and food insecurity.



In a joint statement issued after a meeting on the war, the leaders of the global institutions said the burden would fall most heavily on the world's most vulnerable populations, particularly in low-income, import-dependent economies.



They said their institutions would continue to monitor developments closely and "coordinate the use of all available tools to support those impacted by the crisis."



U.S. President Donald Trump on Tuesday announced a two-week ceasefire deal between the United States and Iran, but relief over the truce quickly gave way to alarm that fighting was still raging across the region, with Israeli strikes on Lebanon and Iranian attacks on Gulf oil facilities.