IMF/World Bank mobilise $150B

The International Monetary Fund and World Bank said they will mobilise an extra $150 billion for emerging economies hit by the latest energy price shock. (thecorner.eu) The pledge came out of the 2026 Spring Meetings in Washington, which ran from April 13 to 18 and brought together finance ministers, central bankers and development officials. The World Bank said the meetings centered on development, financial markets and the global economy. (worldbank.org, imf.org) Reporting from the meetings said the money is aimed at developing countries “hit hardest” by surging energy costs, as officials warned governments against broad fuel subsidies and oil hoarding. (business-standard.com, thecorner.eu) The meetings also shifted toward jobs and private investment, not just headline growth forecasts. IISD’s SDG Knowledge Hub said officials focused on creating jobs for young people by improving the business climate, building infrastructure and mobilising private capital alongside public lending. (sdg.iisd.org) That change reflects the problem many emerging economies face in 2026: higher oil and commodity prices raise import bills, squeeze budgets and feed inflation at the same time. IMF Managing Director Kristalina Georgieva said ahead of the meetings that the war in the Middle East was testing a world economy that had been resilient. (imf.org) Not every government wants new multilateral borrowing. Indonesia’s finance minister, Purbaya Yudhi Sadewa, said he turned down loan offers from the IMF and World Bank worth $25 billion to $30 billion, saying the country’s fiscal position was strong enough without them. (tempo.co, cnbcindonesia.com) India took a different route: its central bank left its benchmark rate unchanged in April while warning that conflict-linked energy costs and El Niño weather risks could push inflation higher. The Reserve Bank of India kept the repo rate at 5.25%. (cnbc.com, news18.com) The result is a familiar split for emerging markets: some want emergency financing as insurance against a new external shock, while others are trying to show they can absorb it without fresh debt. The Spring Meetings ended with both institutions promising more money, but also with clearer signs that countries are choosing very different ways to manage the same energy squeeze. (thecorner.eu, tempo.co, cnbc.com)