‎The International Monetary Fund (IMF) has said at least 12 countries could soon seek emergency financial support as the ongoing Middle East conflict continues to disrupt global energy supply chains and drive up prices.

IMF Managing Director, Kristalina Georgieva, disclosed this on Wednesday, warning that several countries—particularly in sub-Saharan Africa—are already facing rising energy costs and supply chain bottlenecks that may necessitate new loan programmes.

She cautioned that the economic impact of the crisis could persist even if the conflict eases in the near term, citing continued disruptions in global shipping and logistics routes.

According to her, delays in the movement of oil and gas shipments could further tighten global supply conditions in the weeks ahead, as maritime transport remains slow and highly exposed to geopolitical shocks.

The IMF had earlier projected global growth of 3.1 per cent for 2026 in its World Economic Outlook, based on assumptions of a swift resolution to the conflict and easing oil prices.

However, IMF Chief Economist, Pierre-Olivier Gourinchas, said the global economy is now shifting toward a weaker outlook, with growth expected to slow to around 2.5 per cent under current conditions.

He warned that in a severe scenario involving prolonged conflict and sustained high oil prices, global growth could fall further to about 2 per cent, raising concerns about a possible global recession.

The IMF has urged governments to prioritise energy conservation measures rather than broad-based subsidies, warning that untargeted interventions could worsen inflation and prolong high energy costs.

Georgieva advised countries to introduce policies that reduce fuel consumption, including incentives for lower energy use and temporary expansion of public transport support.

The IMF’s Fiscal Monitor also reinforced this position, recommending targeted and temporary cash transfers for vulnerable groups instead of blanket fuel subsidies.

The Fund has called on central banks to remain vigilant against inflation risks as energy shocks threaten to fuel price instability.

While maintaining the importance of price stability, Georgieva advised against premature monetary tightening in economies with strong policy credibility.

However, she noted that countries with weaker inflation control frameworks may be forced to adopt stricter policy responses.

IMF officials warned that developing economies are likely to be disproportionately affected, particularly due to disruptions in fertiliser supply chains and rising food costs.

They estimated that tens of millions of additional people could be pushed into food insecurity if the crisis persists, underscoring the vulnerability of low-income economies to external shocks.

The Fund stressed the need for strong economic fundamentals and flexible policy responses as global uncertainty deepens.