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Analysts at the International Monetary Fund (IMF) warned of growing global food insecurity risks in the near term. The food situation has been quite shaky lately despite some stabilization in prices, the agency underlined.
On September 30th, the IMF delivered a report focusing on the risks of a global food crisis. Experts compare the scale of the current problem with the challenges of 2007-2008 when acute food shortages led to disastrous consequences and a rise in the global death toll.
The IMF foresees an increase in food insecurities in the short term although the global food price situation has somewhat improved. At the same time, prices of some food products still remain at an all-time high.
Experts at the IMF pinpoint that further developments are now hard to forecast due to decreasing food supplies, Ukraine's agricultural export challenges, a spike in fertilizer and energy prices, etc.
They suggest that it would cost the global community as much as $50 billion to ensure food security. These funds would be enough to provide food for about 345 million people and improve their diet situation for the coming year, the IMF stressed.
Published 07 October 2022
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