The IMF has become the most recent international body to issue a warning about possible future food shortages, suggesting that vulnerable countries are at risk of political upheaval over supply difficulties.
The IMF has warned of an impending global food crisis as a result of the Ukraine conflict, saying that poorer nations are vulnerable to social upheaval exacerbated by escalating food costs.
The international financial body, which has previously sounded the alarm over a lack of food and “Hell on Earth” migrant crises, predicts that worldwide growth will fall owing to the ongoing crisis, with poorer countries being hit particularly hard.
According to a message on the group’s website, high inflation and supply difficulties will significantly stifle global economic development, with poor nations, in particular, being hit hard by the impact.
“This catastrophe takes place as the world economy is yet not fully recovered from the epidemic,” Pierre-Olivier Gourinchas, research department director of the group, noted in a post.
“Even before the war, inflation had been increasing throughout many countries owing to supply and demand imbalances and government support during the pandemic, prompting a tightening of monetary policy. In this environment, beyond its immediate and tragic humanitarian consequences, the war will slow economic growth and boost prices.”
“Furthermore, increases in food and gasoline costs are likely to exacerbate social unrest in developing countries. Central banks will need to make major policy adjustments to ensure that medium- and long-term inflation expectations are kept stable.”
Furthermore, while the IMF study went into depth about the near-term impact of the current recession on this year and the next, the globalist organization appears to be concerned that food shortages might last even longer.
The organization, according to Sky News, has warned that food hoarding on a national scale in Ukraine may exacerbate the situation and have a longer-term humanitarian effect.
The IMF is not the first international organization to sound the alarm about rising food prices owing to worldwide supply shortages, with one UN group head going so far as to claim last month that a “Hell on Earth” migrant crisis might erupt if more funds are not given to relief organizations.