World Bank warns of 'human catastrophe' food crisis
Apr 21, 2022 3:43:30 GMT -5
Post by Midnight on Apr 21, 2022 3:43:30 GMT -5
World Bank warns of 'human catastrophe' food crisis
Yesterday 8:57 PM
The world is facing a "human catastrophe" from a food crisis arising from Russia's invasion of Ukraine, according to the President of the World Bank, David Malpass.
World Bank warns of 'human catastrophe' food crisis
In an interview with BBC economics editor Faisal Islam, Mr Malpass, who leads the institution charged with global alleviation of poverty, warned that record rises in food prices would push hundreds of millions people into poverty and lower nutrition, if the crisis continues.
"It's a human catastrophe, meaning nutrition goes down. But then it also becomes a political challenge for governments who can't do anything about it, they didn't cause it and they see the prices going up," he said on the sidelines of the IMF-World Bank meetings in Washington.
The World Bank calculates there could be a "huge" 37% increase in food prices, which is "magnified for [the] poor", who will "eat less and have less money for anything else such as schooling. And so that means that it's really an unfair kind of crisis. It hits the poorest the hardest. That was true also of Covid".
Ukraine war causes 'giant leap' in food prices
Ukraine war 'catastrophic for global food'
The price rises are broad and deep, he said: "it's affecting food of all different kinds oils, grains, and then it gets into other crops, corn crops, because they go up when wheat goes up".
There was enough food in the world to feed everybody, he said, and global stockpiles are large by historical standards, but there will have to be a sharing or sales process to get the food to where it is needed.
Continued at link
Yesterday 8:57 PM
The world is facing a "human catastrophe" from a food crisis arising from Russia's invasion of Ukraine, according to the President of the World Bank, David Malpass.
World Bank warns of 'human catastrophe' food crisis
In an interview with BBC economics editor Faisal Islam, Mr Malpass, who leads the institution charged with global alleviation of poverty, warned that record rises in food prices would push hundreds of millions people into poverty and lower nutrition, if the crisis continues.
"It's a human catastrophe, meaning nutrition goes down. But then it also becomes a political challenge for governments who can't do anything about it, they didn't cause it and they see the prices going up," he said on the sidelines of the IMF-World Bank meetings in Washington.
The World Bank calculates there could be a "huge" 37% increase in food prices, which is "magnified for [the] poor", who will "eat less and have less money for anything else such as schooling. And so that means that it's really an unfair kind of crisis. It hits the poorest the hardest. That was true also of Covid".
Ukraine war causes 'giant leap' in food prices
Ukraine war 'catastrophic for global food'
The price rises are broad and deep, he said: "it's affecting food of all different kinds oils, grains, and then it gets into other crops, corn crops, because they go up when wheat goes up".
There was enough food in the world to feed everybody, he said, and global stockpiles are large by historical standards, but there will have to be a sharing or sales process to get the food to where it is needed.
Continued at link