Ukraine conflict increases food insecurity among developing nations


Share post:

United Nations recently voiced concern over the global repercussions of the Ukraine conflict, saying that it has increased the risk of food insecurity among developing countries.

“We remain concerned that the deteriorating socioeconomic situation in developing countries, particularly those in already fragile situations, could lead to social unrest,” UN Undersecretary-General for Political and Peacebuilding Affairs Rosemary DiCarlo warned the UN Security Council in a briefing.

UN Undersecretary-General said that while food prices have stabilized in recent weeks, this has not necessarily translated to lower inflation rates yet.

“Inflation continued to accelerate in July 2022. It is breaking multi-decade records in developed countries, and yet it is developing countries and the least developed countries that have been more drastically affected,” said DiCarlo.

She went on to say, “The conflict is having another impact that, although less tangible, is just as perilous. In deepening global divisions and exacerbating mistrust in our institutions, the conflict is weakening the foundations of the system.”

“According to World Food Programme (WFP) estimates, 345 million people will be acutely food insecure or at a high risk of food insecurity in 82 countries with a WFP operational presence. This represents an increase of 47 million acutely hungry people due to the ripple effects of the Ukraine conflict,” DiCarlo told the UN Security Council.

Last month, Undersecretary-General said, the UN Development Programme estimated that up to 71 million people may have already been pushed into poverty in the three months after the start of the conflict. Key affected areas include the Balkans, the Caspian Sea region, and sub-Saharan Africa, particularly the Sahel.

“The global financial situation remains volatile, with concerns about potential stagflation scenarios in the latter part of 2022 and 2023. Energy markets remain under stress, a serious concern as the winter season in the northern hemisphere approaches,” she said.

“The fiscal situation in many developing economies is of particular concern as their borrowing ability has been fragile following the need to respond to the COVID-19 pandemic with significant expenditures.”

“Today, developing country debts and import bills are coming under further pressure,” she added.

The UN Undersecretary-General called the Ukraine-Russia conflict senseless adding that it is exceedingly dangerous for all of us.

“The consequences of a breakdown in how the world manages questions of peace and security are frightening to contemplate. This war is not only senseless, but exceedingly dangerous, and it touches all of us. It must end,” she noted.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link


Please enter your comment!
Please enter your name here

Related articles

Why General Electric Investors Should Prepare for Bad News (And Why It Doesn’t Matter)

General Electric (GE 2.73%) will release its third-quarter results on Oct. 25. Unfortunately, based on management's recent...

Is Altria’s 9% Monster Dividend Yield Safe?

Given Altria's (MO) dividend, one can forgive casual observers for assuming Altria's cash yield is a dividend...

TypeScript turns 10 years old

After initially being greeted with skepticism, Microsoft’s TypeScript programming language, which brought static types to JavaScript development,...