The world’s big-to-small economies reel under the impact of the Middle East conflict due to the energy crisis that has curtailed exports and driven oil prices high. Most countries cannot absorb the conflict’s direct and indirect costs. The International Monetary Fund (IMG) has cut its global growth outlook and warns of higher inflation. Meanwhile, the World Bank president, Ajay Banga, has provided the first indication that it may have to come up with as much as $100 billion over the next 15 months to support the survival of countries hit by the conflict. And 20 to 25 percent of this money would be needed almost immediately. 

Banga's hint to mobilize funds was dropped during the sidelines of the spring meetings of the IMF and World Bank. Banga said up to $100 billion would be needed in additional funding to ward off the negative impact of the conflict. 

Even if a ceasefire continued and a deal was reached, it would take time for the energy market to settle down. The IMF is discussing ways and means to meet and mitigate the damage on countries hit hard by higher energy prices and supply chains.