Economy April 20, 2026 08:12 AM

U.S. to Convene Additional G20 Talks on Middle East War’s Toll on Food and Fertilizer

Washington, as current G20 chair, seeks coordinated steps with IMF and World Bank to protect fertilizer access and stabilize agricultural supply chains

By Priya Menon
U.S. to Convene Additional G20 Talks on Middle East War’s Toll on Food and Fertilizer

The United States, serving as the G20 chair, announced it will host additional meetings in the coming weeks to address how the war in the Middle East is affecting food supplies and fertilizer flows. Finance ministers and central bank governors discussed the issue at a spring meeting on April 16, but stopped short of committing to a coordinated action plan. U.S. Treasury Secretary Scott Bessent has urged collective measures alongside the IMF and World Bank as growth forecasts have been cut and energy costs have risen, raising concerns about fertilizer shipments at a critical time for planting.

Key Points

  • The U.S., as G20 chair, will host additional meetings to address the impact of the Middle East war on food and fertilizer supply chains; finance ministers and central bank governors discussed the issue on April 16.
  • U.S. Treasury Secretary Scott Bessent has called for coordinated action with the IMF and World Bank to ensure access to fertilizer, a move supported by a majority of G20 members though some did not confirm immediate action.
  • IMF and other institutions have cut growth forecasts due to the conflict and rising energy prices; supply chain disruptions to fertilizer shipments could put an additional 45 million people at risk of food insecurity.

The United States, currently chairing the Group of 20 major economies, said it will convene further discussions in the weeks ahead to tackle the consequences of the war in the Middle East on food markets and fertilizer supply chains. The announcement follows a meeting of G20 finance ministers and central bank governors held during the spring meetings of the International Monetary Fund and World Bank on April 16.

A chair's statement summarizing that April 16 meeting indicated that officials examined a broad set of topics, including the economic fallout from the conflict and its effects on agriculture markets, value chains and fertilizer availability. However, the statement made clear that participants did not reach an agreement to launch a coordinated effort guaranteeing fertilizer access amid the disruptions linked to the war.

U.S. Treasury Secretary Scott Bessent last week began pressing the G20 - which includes major economies such as Russia and China - to pursue coordinated measures together with the IMF and World Bank to ensure that countries can obtain urgently needed fertilizer. The push reflects concern about timing: supply chain interruptions to fertilizer at the start of the growing season could have amplified effects on plantings and harvests.

The IMF and other international institutions have responded to the conflict by lowering growth forecasts, citing sharply higher energy prices among the transmission channels. They warned that war-related disruptions to shipments, particularly of fertilizer, could increase the number of people facing food insecurity by as many as 45 million.

According to the statement, the IMF expects at least a dozen countries to request new programs with the global crisis lender because of the economic shock stemming from the conflict. A majority of G20 members expressed support for the U.S.-led initiative, though a small number were not ready to confirm concrete action by the end of the week. Officials said staff-level engagements will continue to refine possible steps and work toward what was described as an "actionable consensus." Details about any specific coordinated measures were not disclosed.

Participants in the April 16 discussions underscored the importance of keeping food and fertilizer supply chains functioning, and many highlighted the particular vulnerability of low-income and otherwise vulnerable countries. The chair's statement noted that members raised the need to avoid imposing export prohibitions or restrictions on fertilizers as a means to preserve access for those most at risk.

G20 members welcomed the IMF and World Bank's efforts to coordinate their responses in order to maximize the effectiveness of financial and policy support. IMF Managing Director Kristalina Georgieva said on Friday that the two institutions would meet in the week following the spring meetings to assess assistance requests from member countries and to coordinate the most appropriate response.

In the meeting, many members reiterated commitments to remain agile and flexible in their macroeconomic policy responses and to cooperate where possible. Officials discussed "the potential for coordinated action" aimed at promoting food security and stabilizing markets, while emphasizing the value of diversified fertilizer production as a buffer to protect the poorest countries from acute disruptions in food trade and input supply chains.

Under U.S. leadership, Bessent has moved to streamline the G20's work program, pausing a number of committees that previously addressed topics such as climate change and sustainability. The U.S. Treasury has emphasized a narrowed focus on core macroeconomic priorities. A Treasury spokesman said Bessent seeks to return the G20 to "a more nimble, action-oriented group" and indicated that Washington looks forward to working with G20 partners to take further steps.


Analysis from a supply-chain perspective

From an operational viewpoint, the discussions reflect acute concern about near-term logistics and inventory dynamics for fertilizer at a time when planting decisions are being made in many regions. Disruptions in shipments, export restrictions and higher energy-related transport costs can amplify working-capital pressures for producers and distributors, while constraining farmers' access to inputs. The emphasis on avoiding export prohibitions and on diversifying fertilizer production signals recognition that both trade policy and production mix are central to buffering vulnerable economies.

Risks

  • Supply chain disruptions to fertilizer shipments at the start of the growing season could reduce agricultural input availability, affecting the agriculture sector and food markets.
  • Possible export prohibitions or restrictions on fertilizers could disproportionately harm low-income and vulnerable countries, increasing pressures on food security and requiring IMF or World Bank assistance for affected economies.
  • Higher energy prices linked to the conflict are contributing to downgraded growth forecasts, increasing macroeconomic stress and raising the likelihood that at least a dozen countries will seek new programs from the IMF.

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