El World Bank (BM), the International Monetary Fund (IMF), the World Trade Organization (WTO) and the World Food Programme (WFP) of United Nations urged action on Wednesday (13.04.2022) to help vulnerable countries cope with growing threats to food security.
The call of the four organizations It comes ahead of the IMF and World Bank's spring meeting next week.
The leaders issued a joint statement on the consequences of rising food prices by the war in Ukraine which has hit huge amounts of wheat and other cereal exports around the world.
“The threat is greatest for poorer countries with a large share of imported food consumption, but vulnerability is increasing rapidly,” they said.
In detail, they estimate that For every 1% increase in food prices, 10 million people are thrown into extreme poverty worldwide.
For this reason, they urged coordinated actions ranging from the provision of emergency food supplies, financial support, increased agricultural production and open trade.
In addition, the four institutions urged Keep trade flows open and to avoid restrictive measures such as bans on the export of food or fertilizers.
In particular, it is requested that exports not be restricted to humanitarian food purchases by the UN World Food Programme.
The statement was signed by World Bank President David Malpass, IMF Managing Director Kristalina Georgieva, WFP Executive Director David Beasley and WTO Director-General Ngozi Okonjo-Iweala.Declaration)
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
