The International Monetary Fund (IMF) released a warning about potential global food shortages and added that vulnerable countries are at risk of civil unrest and economic collapse.
Food prices continue to rise, which makes it even harder for poorer countries, in addition to the global food crisis as a result of Russian invading Ukraine.
Breitbart reports:
Amid past warnings of starvation and “Hell on Earth” migrant crises over a lack of food, the international finance body has predicted that growth across the world will be negatively affected, with poorer nations in particular to feel the brunt of the ongoing crisis.
According to a post on the organisation’s website, a mix of high inflation and supply problems are to greatly slow economic growth across the world, with vulnerable economies, in particular, to be hit with the brunt of the hardship.
“This crisis unfolds even as the global economy has not yet fully recovered from the pandemic,” said the group’s research department director, Pierre-Olivier Gourinchas.
“Even before the war, inflation in many countries had been rising due to supply-demand imbalances and policy support during the pandemic, prompting a tightening of monetary policy,” he continued. “In this context, beyond its immediate and tragic humanitarian impact, the war will slow economic growth and increase inflation.”
“Furthermore, increases in food and fuel prices may also significantly increase the prospect of social unrest in poorer countries,” Gourinchas added. “Central banks will need to adjust their policies decisively to ensure that medium- and long-term inflation expectations remain anchored.”
Sky News reports the organisation as warning that food hoarding on the national level in Ukraine could further worsen the crisis and result in a longer-term humanitarian impact.
The IMF is far from the first international organisation warning about the rising price of food as a result of global supply shortages, with one UN group head even going so far as saying last month that a “Hell on Earth” migrant crisis could emerge out of the third world if more funds are not provided to aid agencies.
“Failure to provide this year a few extra billion dollars means you’re going to have famine, destabilization, and mass migration,” said ex-Republican Governor David Beasley, who now serves as the head of the World Food Bank.
“If you think we’ve got Hell on earth now, you just get ready,” the senior official added. “If we neglect northern Africa, northern Africa’s coming to Europe. If we neglect the Middle East, [the] Middle East is coming to Europe.”
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