IMF, World Bank, IEA urge countries to stop hoarding energy supplies, imposing export controls

The International Monetary Fund, World Bank and International Energy Agency on Monday urged countries to avoid hoarding energy supplies and imposing ‌export ⁠controls ⁠that could worsen what they called the biggest shock ever to the global energy market.

IEA chief Fatih Birol told reporters after a meeting ⁠with the IMF ‌and World Bank leaders that several countries ⁠were holding onto stocks and imposing export restrictions and appealed to all countries to let energy stocks flow to the markets. He did not name the countries.

"First ‌do no harm," IMF Managing Director Kristalina Georgieva told reporters, noting ⁠that she was meeting with countries that were being hit hard in Asia, Sub-Saharan Africa and some South Pacific islands that were worried about supplies.