At the International Monetary Fund and World Bank Spring Meetings in Washington, participants were optimistic about Iran's potential reopening the Strait of Hormuz, allowing for global oil, gas, fertilizer and other commodities to resume. However, optimism was fading amid new attacks on shipping. The IMF and World Banking leaders warned countries not to hoard oil and use unnecessary fuel price subsidies. However they could only watch statements from Tehran and the White House regarding the situation. The African Development Bank's chief economist, Kevin Chika Urama, said the Middle East crisis provided a fresh imperative for African countries to deepen regional trade and economic ties, work on alternative energy sources, expand their domestic tax bases, and tap into enormous natural gas reserves. Finance ministers, central bankers and other officials attending the meetings expressed frustration at being thrust into another economic calamity by President Donald Trump's actions.