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Kevin Carey

@kevincareywb

World Bank Macro / Climate Opinions are mine and not WB X: Kevin_Carey_WB

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Latest posts by Kevin Carey @kevincareywb

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Egyptians feel Iran war shockwaves as fuel prices jump Egyptians watched their everyday costs surge on Tuesday after the government raised fuel prices, blaming spiralling global energy markets due to the US-Israeli war on Iran."This will raise the price o...

(AFP) "Nothing that goes up in price in Egypt comes back down, ever," said Walid Ibrahim, another cab driver, shaking his head at a petrol station." sg.news.yahoo.com/egyptians-fe...

11.03.2026 00:41 πŸ‘ 2 πŸ” 1 πŸ’¬ 0 πŸ“Œ 0
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The World Needs These Two Middle East Pipelines Now More Than Ever The blockage in the Strait of Hormuz has suddenly made Saudi Arabia’s East-West pipeline one of the most critical pieces of infrastructure in the world.

"Seven months later, Saddam Hussein invaded Kuwait and the pipeline never took off."
www.wsj.com/world/middle...

11.03.2026 00:34 πŸ‘ 0 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0

WSJ: "Even more oil might have been able to head out via the Red Sea had another pipeline not fallen hostage to regional hostilities. At the start of 1990, Iraq and Saudi Arabia opened a massive pipeline that was supposed to take Baghdad’s crude all the way to Yanbu ..."

11.03.2026 00:34 πŸ‘ 0 πŸ” 0 πŸ’¬ 1 πŸ“Œ 0

Note the unwritten part of the story: the source of some free market access and on-the-ground information about life in Turkmenistan was ... Iran.

11.03.2026 00:28 πŸ‘ 0 πŸ” 0 πŸ’¬ 1 πŸ“Œ 0
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Iran war sends prices in next door Turkmenistan soaring At a market in Turkmenistan's capital Ashgabat, pensioner Shemshat Kurbanova always used to pick the "juiciest" Iranian fruit -- but 10 days of war across the border have sent prices soaring and she i...

Turkmenistan: "According to an AFP journalist, mandarins in Ashgabat cost $1.90, apples more than $2 and a pack of cigarettes has risen to $3 -- pretty much double what they were." sg.finance.yahoo.com/news/iran-wa...

10.03.2026 16:31 πŸ‘ 1 πŸ” 0 πŸ’¬ 0 πŸ“Œ 2
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Mongolia / offer document for new Eurobonds, $500m 2032. Loaded with useful information including on principal mining projects (not least coal), the Development Bank of Mongolia (DBM), and public debt. links.sgx.com/1.0.0/prospe...

10.03.2026 16:25 πŸ‘ 0 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0
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India tightens gas supplies over Mideast war, restaurants warn of closures India ordered tighter controls over natural and cooking gas on Tuesday following import disruptions caused by the Middle East war, with restaurants warning it could spark widespread closures."The ongo...

Bangladesh (AFP): "On Tuesday, [petrol] queues stretched for 1.5 km [] through Dhaka's city centre. "My boss left the car here & took a rickshaw to reach his destination," Kamrul Hasan, who was waiting in a vehicle almost at the end of the queue, told AFP." sg.news.yahoo.com/india-tighte...

10.03.2026 14:06 πŸ‘ 0 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0
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India tightens gas supplies over Mideast war, restaurants warn of closures India ordered tighter controls over natural and cooking gas on Tuesday following import disruptions caused by the Middle East war, with restaurants warning it could spark widespread closures."The ongo...

"Restaurants and hotels across India also warned of disruptions to operations, after a separate ministry order on Monday that prioritised domestic LPG supplies to households." sg.news.yahoo.com/india-tighte...

10.03.2026 13:58 πŸ‘ 0 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0

India (AFP): "To meet the gap, gas supplied to petrochemical facilities and power plants would either be fully or partially curtailed.

Indian industries including several ceramics and tile firms have already said they are facing a cutback in gas supplies that could impact production ..."

10.03.2026 13:58 πŸ‘ 0 πŸ” 0 πŸ’¬ 1 πŸ“Œ 0
MSN

Egypt (Reuters): "The increases of about 14% to 17% on a wide range of petroleum products are the first this year and follow a hike of nearly 10.5% to 12.9% in October." www.msn.com/en-us/news/o...

10.03.2026 12:30 πŸ‘ 1 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0
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Price Caps, Rationing and Stockpiling: Alarm Swells Over Oil Disruptions

"Unlike its neighbors, such as Indonesia and Thailand, which are partially shielded by fuel subsidies, prices at the pump in the Philippines are more market-driven."
www.nytimes.com/2026/03/09/b...

10.03.2026 02:08 πŸ‘ 0 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0
MSN

Pakistan: "Fuel allowances for government departments would be cut in half, and 50% of government staff would work from home to save fuel, he said. All government offices except banks would also operate four days a week, [PM] Sharif said." www.msn.com/en-us/news/w...

09.03.2026 17:22 πŸ‘ 0 πŸ” 2 πŸ’¬ 0 πŸ“Œ 0
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Vietnam scraps fuel duties as Mideast war hits supplies Vietnam announced on Monday it was scrapping tariffs on fuel imports, as the US-Israeli war with Iran disrupts oil supplies and pushes prices to their highest level since 2022.Since the war began more...

"Vietnam currently imposes tariffs of 10 percent on unleaded gasoline and seven percent on diesel, aviation fuel and kerosene -- all of which have been slashed to zero effective immediately." sg.news.yahoo.com/vietnam-mull...

09.03.2026 17:22 πŸ‘ 2 πŸ” 3 πŸ’¬ 1 πŸ“Œ 0
MSN

"The river banks broke as the rains continued and cars were swept off and water flowed into our shops destroying property for many people," Frederick Wasonga, who sells car accessories in the city centre, said." www.msn.com/en-gb/news/w...

09.03.2026 12:54 πŸ‘ 0 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0

Kenya / Nairobi floods: "AFP reporters saw on Saturday heavily damaged roads and infrastructure from Nairobi's vast slums to upmarket areas ..."

09.03.2026 12:54 πŸ‘ 1 πŸ” 1 πŸ’¬ 1 πŸ“Œ 0
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Iran war sends shockwaves through African fuel market and economies Rising global oil prices triggered by the Iran war are increasing economic pressures across Africa, where most countries rely heavily on imported petroleum products.

β€œIt’s difficult to say [] whether [Africa] will see net gains,” [Nick] Hedley [Zero Carbon Analytics] said. β€œOil producers could benefit from higher crude prices, but ordinary citizens will likely face higher transport & fuel costs, & potentially higher interest rates.” apnews.com/article/iran...

09.03.2026 12:52 πŸ‘ 1 πŸ” 1 πŸ’¬ 0 πŸ“Œ 0
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Bangladesh scraps light displays as Mideast war worsens fuel crunch Bangladesh has tightened security at filling stations, sent students home and even scrapped light displays for independence and Ramadan celebrations, officials said Monday, as the Middle East war wors...

"Bangladesh has also shut universities and brought forward the Eid holidays, the end of the Muslim holy month of Ramadan. Many educational institutions were already closed for Ramadan." sg.finance.yahoo.com/news/banglad...

09.03.2026 12:43 πŸ‘ 0 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0
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The Long-Feared Persian Gulf Oil Squeeze Is Upon Us Traffic through the Strait of Hormuz has ground to a virtual halt, unleashing the most severe energy crisis since the 1970s.

"though exorbitant prices will put some buyers off. Pakistani energy bills could soar under the terms of recent International Monetary Fund loans." www.wsj.com/world/middle...

09.03.2026 01:50 πŸ‘ 1 πŸ” 1 πŸ’¬ 0 πŸ“Œ 0

WSJ: "Taiwan, India, Pakistan and Bangladesh are more exposed, said [Ross] Wyeno [S&P Global]. He expects demand to fall in all four countries as well as bids to attract cargoes heading to Europe, ..."

09.03.2026 01:50 πŸ‘ 1 πŸ” 1 πŸ’¬ 1 πŸ“Œ 1
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Bangladesh rations fuel as Mideast war deepens energy crunch Bangladesh launched fuel rationing on Sunday as the war in the Middle East deepened an energy crunch, creating long queues at filling stations and boiling over into anger.As soon as the restrictions t...

Bangladesh: "Due to the current tensions, five of the country's six fertiliser factories have been closed until March 18, an official with the Bangladesh Chemical Industries Corporation, Ahsan Quddus Kuntal, told AFP." sg.news.yahoo.com/bangladesh-r...

08.03.2026 14:18 πŸ‘ 1 πŸ” 1 πŸ’¬ 1 πŸ“Œ 0
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War in the Middle East Threatens Global Food Production

β€œSulfur is essentially the commodity that is most exposed,” said Mr. Lawson at the CRU Group. β€œIt’s fairly astonishing, the exposure that all these different markets have to sulfur as a raw material.” www.nytimes.com/2026/03/07/b...

08.03.2026 00:20 πŸ‘ 5 πŸ” 5 πŸ’¬ 0 πŸ“Œ 0

NYT on impact on agricultural inputs of Gulf conflict: "If sulfur becomes scarce, that will be felt most acutely in Morocco, where factories use it to make phosphate fertilizer ..."

08.03.2026 00:20 πŸ‘ 0 πŸ” 2 πŸ’¬ 1 πŸ“Œ 0
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23 dead, flights disrupted and military deployed after heavy rains pound Kenya's capital overnight Twenty-three people have died, flights have been disrupted and the military was deployed as motorists in the Kenyan capital, Nairobi, were stranded for hours following heavy rains overnight.

Nairobi: "Some residents blamed the flooding on clogged drainage systems, stating that city authorities ought to have prepared by ensuring there was functional drainage infrastructure ahead of the rainy season." apnews.com/article/keny...

07.03.2026 13:39 πŸ‘ 0 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0
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IMF working paper: "Tenures of governors with politically motivated appointments are associated with higher and more volatile inflation, realized and expected." www.imf.org/en/publicati...

06.03.2026 21:48 πŸ‘ 5 πŸ” 2 πŸ’¬ 0 πŸ“Œ 1
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IMF Staff Concludes Visit to Gabon An International Monetary Fund (IMF) staff team led by Ms. Aliona Cebotari visited Libreville from February 25 to March 6, 2026, to conduct technical discussions with the authorities on recent economi...

"and financial policies to safeguard macroeconomic stability in Gabon and the region. Policy dialogue with the authorities will continue in the weeks ahead, including during the upcoming IMF Spring Meetings." www.imf.org/en/news/arti...

06.03.2026 21:00 πŸ‘ 0 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0

Gabon / IMF mission: "Discussions highlighted the potential benefits of ongoing reforms to improve public financial management, governance, the business climate and to fight corruption, and underscored the criticality of ensuring prudent fiscal ..."

06.03.2026 21:00 πŸ‘ 0 πŸ” 0 πŸ’¬ 1 πŸ“Œ 0
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Senegal cuts government agencies to save cash amid debt woes DAKAR (Reuters) – Senegal has announced a plan to close 19 government agencies which account for around 1,000 jobs, with officials in the debt-burdened country expecting the move to save at least 55 b...

"Senegal has announced a plan to close 19 govt agencies which account for around 1,000 jobs, with officials in the debt-burdened country expecting the move to save at least 55 bn CFA francs ($97.95 million) over the next three years, a statement said." www.cnbcafrica.com/2026/senegal...

06.03.2026 16:22 πŸ‘ 1 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0
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New World Bank Group Financing Supports Angola’s Economic Reforms to Promote Inclusive Growth and Job Creation The World Bank’s Board of Executive Directors and the Multilateral Investment Guarantee Agency’s (MIGA) Board of Directors approved the first in a series of operations to support Angola’s ambitious st...

"Part of the fiscal savings generated by the swap will be redirected toward expanding access to education, contributing to improved human capital outcomes and enhanced job opportunities for future generations." www.worldbank.org/en/news/pres...

06.03.2026 13:48 πŸ‘ 0 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0

"This mechanism aims to prepay costly commercial debt with the proceeds of a competitively procured and guaranteed commercial loan, thereby reducing debt service costs and improving debt sustainability ..."

06.03.2026 13:48 πŸ‘ 0 πŸ” 0 πŸ’¬ 1 πŸ“Œ 0

Angola / World Bank DPF ($750m) plus guarantees ($240m + 2nd loss) to enable a debt for development swap: "The two guarantees will provide the Government of Angola with additional fiscal space to invest in its development priorities through a debt-for-development swap ..."

06.03.2026 13:48 πŸ‘ 0 πŸ” 0 πŸ’¬ 1 πŸ“Œ 0