Bank of England Governor Warns of Apocalyptic Food Shortage
May 17, 2022 13:36:57 GMT -5
Post by schwartzie on May 17, 2022 13:36:57 GMT -5
Bank of England Governor Warns of ‘Apocalyptic’ Food Shortages From Fallout of Russia-Ukraine War
By Kristinn Taylor
Published May 17, 2022 at 10:51am
Russia’s war on Ukraine is leading to an “apocalyptic” food shortage, Governor of the Bank of England Andrew Bailey told a committee of Parliament on Monday. Bailey said the main issue is that major global grain supplier Ukraine’s crops cannot be exported due to the war. The head of the United Nations World Food Program warned “millions of people around the world will die” if Ukraine’s Black Sea ports continue to be blockaded by Russia. Last week, Italian League party leader Matteo Salvini warned the looming food shortages due to the war could cause as many as 20 million people from Africa to migrate to Europe.
Andrew Bailey, Governor of the Bank of England, BoE photo.
The Evening Standard reported on the “apocalyptic” warnings by the Bank of England and the U.N. (exceprt):
The Bank of England governor sounded an “apocalyptic” warning on Monday over looming food shortages caused by Vladimir Putin’s invasion of Ukraine.
Andrew Bailey told MPs of his “major worry” over food supplies, particularly to the developing world.
Appearing before the Commons Treasury Committee, he was asked about a range of subjects.
“I’m afraid the one I’m going to sound I guess apocalyptic about is food,” he said.
Mr Bailey added that after speaking with the Ukrainian finance minister at an International Monetary Fund meeting in Washington, future supplies of many staple foods were in doubt.
…David Beasley, head of the United Nations World Food Programme, pleaded with the Russian president to end the blockade of Black Sea ports.
“Millions of people around the world will die because these ports are being blocked,” he warned.
He emphasised that the historic port of Odesa, which has come under heavy Russian bombardment, and other ports needed to be operational within the next two months to avoid catastrophe for Ukraine’s economy which is heavily focused on agriculture, recently accounting for just over 40 per cent of its exports.
Ukraine is among the top five global exporters for several vital agricultural products, including corn, wheat and barley, according to the US government, as well as being the top exporter of both sunflower oil and meal.
Continued at link
By Kristinn Taylor
Published May 17, 2022 at 10:51am
Russia’s war on Ukraine is leading to an “apocalyptic” food shortage, Governor of the Bank of England Andrew Bailey told a committee of Parliament on Monday. Bailey said the main issue is that major global grain supplier Ukraine’s crops cannot be exported due to the war. The head of the United Nations World Food Program warned “millions of people around the world will die” if Ukraine’s Black Sea ports continue to be blockaded by Russia. Last week, Italian League party leader Matteo Salvini warned the looming food shortages due to the war could cause as many as 20 million people from Africa to migrate to Europe.
Andrew Bailey, Governor of the Bank of England, BoE photo.
The Evening Standard reported on the “apocalyptic” warnings by the Bank of England and the U.N. (exceprt):
The Bank of England governor sounded an “apocalyptic” warning on Monday over looming food shortages caused by Vladimir Putin’s invasion of Ukraine.
Andrew Bailey told MPs of his “major worry” over food supplies, particularly to the developing world.
Appearing before the Commons Treasury Committee, he was asked about a range of subjects.
“I’m afraid the one I’m going to sound I guess apocalyptic about is food,” he said.
Mr Bailey added that after speaking with the Ukrainian finance minister at an International Monetary Fund meeting in Washington, future supplies of many staple foods were in doubt.
…David Beasley, head of the United Nations World Food Programme, pleaded with the Russian president to end the blockade of Black Sea ports.
“Millions of people around the world will die because these ports are being blocked,” he warned.
He emphasised that the historic port of Odesa, which has come under heavy Russian bombardment, and other ports needed to be operational within the next two months to avoid catastrophe for Ukraine’s economy which is heavily focused on agriculture, recently accounting for just over 40 per cent of its exports.
Ukraine is among the top five global exporters for several vital agricultural products, including corn, wheat and barley, according to the US government, as well as being the top exporter of both sunflower oil and meal.
Continued at link
