IMF Warns of ‘Unrest’ amid Looming Global Food Crisis
This crisis unfolds even as the global economy has not yet fully recovered'
By: Jack Murphy |@NeonNettle
The IMF has issued a warning regarding looming global food shortages, saying that vulnerable nations are at risk of civil unrest amid supply issues.
The global body predicted civil unrest linked to sky-high food prices is on the cards for poorer countries as the world heads into a global food crisis as a result of the ongoing conflict in Ukraine.
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 organization’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,” the post penned by 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,” the piece continues.
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