Over 275 million people worldwide facing acute food insecurity because of war in Ukraine

The World Bank, International Monetary Fund, UN World Food Program, and World Trade Organization on Wednesday called for urgent, coordinated action on food security and appealed to countries to avoid banning food or fertilizer exports, reported from Reuters. 

In a joint statement, the leaders of the four institutions warned that the war in Ukraine was adding to existing pressures from the COVID-19 crisis, climate change, and increased fragility and conflict, threatening millions of people worldwide.

Sharply higher prices for staples and supply shortages were fueling pressure on households, they said. The threat is greatest to the poorest countries, but the vulnerability was also increasing rapidly in middle-income countries, which host the majority of the world’s poor.

U.S. Treasury Secretary Janet Yellen also expressed grave concerns about the food security crisis during a speech at the Atlantic Council think tank, noting that over 275 million people worldwide were facing acute food insecurity.

A Treasury spokesperson said the meeting would include ministers from the G7 and G20 major economies, officials from the IMF, World Bank, and International Fund for Agricultural Development (IFAD), as well as lead technical experts on food security and agriculture. "The event will bring attention to the different dimensions of the worsening food security crisis; and mobilize the (international financial institutions) to accelerate and deepen their response to assist affected countries,” the spokesperson said.

Yellen said she would meet with other leaders next week to discuss possible solutions and underscored the need for longer-term investments to address vulnerabilities in food systems.





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