The world’s poorest countries are feeling the pinch from the ongoing energy crisis. Long queues for cooking gas have been reported in Nepal, while Sri Lanka has implemented strict fuel conservation measures by shutting down non-essential businesses on Wednesdays. In Pakistan, schools have been closed and universities moved online to conserve energy.
As the IMF warns of “unthinkable” consequences, households and governments are bracing for the worst. The situation is already dire, with economic fallout expected from countries losing citizens due to high living costs.
Even in the best-case scenario, energy markets remain uncertain, with prices unlikely to recover anytime soon. The Iran war has accelerated this crisis, but its impact will be felt long after it’s over. The energy shock has a disproportionate effect on economically vulnerable populations and petrostate nations like America.
Source: https://www.economist.com/finance-and-economics/2026/03/19/which-country-is-the-biggest-loser-from-the-energy-shock