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PARIS – G7 finance ministers are assessing potential economic fallout from escalating tensions involving Iran, with France’s finance minister calling for increased support from the International Monetary Fund (IMF) and the World Bank for vulnerable countries. The discussions, held in Paris on May 19, come amid heightened concerns over regional instability following recent events.

According to sources, the ministers are exploring various responses to mitigate the impact of potential disruptions to global supply chains and energy markets. The focus is on identifying countries most at risk and determining how the IMF and World Bank can best provide assistance.

French Finance Minister Bruno Le Maire specifically urged the IMF and World Bank to bolster their support for nations facing economic hardship due to the situation. He emphasized the need for a coordinated international response to address the potential consequences, highlighting the interconnectedness of the global economy. While specific measures under consideration were not detailed, the sentiment underscores a proactive approach to managing economic risks.

The G7 nations – comprising Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States – regularly convene to discuss global economic challenges and coordinate policy responses. This meeting’s focus on Iran reflects the growing recognition of the geopolitical risks impacting the global financial landscape. The ministers are expected to continue monitoring the situation and adapting their strategies as needed to safeguard economic stability.