G7 finance ministers explore responses to Iran war fallout

France's finance minister urged the International Monetary Fund and the World Bank to do more to help countries most vulnerable to the fallout from the Middle East conflict, as he hosted ministers from the G7 and other countries in Paris on Tuesday.

Finance ministers and central bank governors from G7 countries met in the French capital for a second day of talks to discuss the economic fallout from the conflict and volatility on global bond markets.

They were joined on Tuesday by representatives from other countries including some Gulf states, Brazil and Kenya as the seven most advanced economies look to build new partnerships amid tensions on issues ranging from the Iran war to putting pressure on Russia over Ukraine.

"We agree on the fact that the IMF and the World Bank have to step up their game ⁠for those countries (most vulnerable to the impact of the Middle East conflict) and make sure we help them," French Finance Minister Roland Lescure told reporters, adding that a shortage of fertilizer would have a particular impact.



Reuters