‘Can’t make a squeak’: Trump’s fossil fuel push puts IMF, World Bank on defensive

International financial institutions want to help countries achieve goals to move off imported oil and gas. The Trump administration would rather they don't.

International Monetary Fund Managing Director Kristalina Georgieva speaks during a news conference during the World Bank/IMF Annual Meetings in Washington on Oct. 24, 2024. | Jose Luis Magana/AP

The war in Iran is sparking new calls by international financial institutions for lower-income countries to loosen their fossil fuel dependence as they reel from the conflict.

One of the biggest obstacles is President Donald Trump.

The International Monetary Fund and the World Bank — charged with cushioning poorer nations from economic crises — are warning of the mounting threats to those economies as the war sends energy costs soaring and creates shortages.

© Politico