Global leading organizations such as World Bank Group, IMF, WFP, and WTO have revealed to meet the challenges of global food crisis. Joint declaration has been Proposed for an urgent coordinated actions to help vulnerable countries for providing emergency food supplies and financial support up-to households level; facilitating unrestricted trade; investing in sustainable food production and nutrition security. Global leaders call on the International Community to support to needed countries through grants to cover their urgent financial needs.
The Head of the World Bank Groups (WBG), International Monetary Fund (IMF), World Trade Organization (WTO), and United Nations World Food Program (WFP), has called for an urgent action on food security and advocate for unrestricted global trade. World Bank Group President David Malpass, IMF Managing Director Kristalina Georgieva, WFP Executive Director David Beasley and WTO Director General Ngozi Okonjo-Iweala have issued the following joint statement ahead of the Spring Meetings of the IMF and World Bank Group next week and warned the world community that “The fallout of the war in Ukraine is adding to the ongoing COVID-19 pandemic that now enters its third year, while climate change and increased fragility and conflict pose persistent harm to people around the globe. Sharply higher prices for staples and supply shortages are increasing pressure on households worldwide and pushing millions more into poverty. The threat is highest for the poorest countries with a large share of consumption from food imports, but vulnerability is increasing rapidly in middle-income countries, which host the majority of the world’s poor”. The World Bank has estimated that the present rate of inflation 10 million people will be thrown into extreme poverty worldwide have been deadly affected food production in the most of the countries.
The dramatic increase in the cost of natural gas a key ingredient of nitrogenous fertilizer, Surging fertilizer prices along with significant cuts in global supplies. It has been revealed that, the increase in food prices and supply shocks can fuel social tensions in many of the affected countries, especially those that are already fragile or affected by conflict. The global organization further called for coordination between international communities in provision of emergency food supplies, financial support, increased agricultural production, and open trade.
We are committed to combining our expertise and financing to quickly step up our policy and financial support to help vulnerable countries and households as well as to increase domestic agricultural production in, and supply to, impacted countries. The joint statement further stated that “We can mitigate balance of payments pressures and work with all countries to keep trade flows open”.
We also urge all countries to keep trade open and avoid restrictive measures such as export bans on food or fertilizer that further exacerbate the suffering of the most vulnerable people. It is especially important not to impose export restrictions on humanitarian food purchases by the UN’s World Food Program.” The distress call the joint statement states that, it is the high time to awake and jump with fruitful action for the food security for the countryman. Keeping in view, the 1.4 billion population and the effects of Climate change being experienced in different parts of the world. The warning and revealing of the world leading organization should not go unheard.
For more read: https://www.worldbank.org/en/news/statement/2022/04/13/joint-statement-the-heads-of-the-world-bank-group-imf-wfp-and-wto-call-for-urgent-coordinated-action-on-food-security
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