One-fifth of world may soon be facing extreme hunger and poverty due to Ukraine crisis, says UN chief
Up to 1.7 billion people will soon be suffering as a repercussion of Ukraine Crisis.
Amid the ongoing Ukraine-Russia crisis, United Nations (UN) Secretary-General Antonio Guterres warned that one-fifth of humanity could soon be plunged into extme hunger and poverty as grain exports and supply chains have been completely deranged.
UN chief said, “We all see the tragedy unfolding in Ukraine. But beyond its borders, the war has launched a silent assault on the developing world. The crisis could plunge up to 1.7 billion people, more than a fifth of humanity, into poverty and hunger on a scale not seen in decades.”
It is a known fact that Ukraine and Russia amount to 30% of the world’s production of wheat and barley. Not just this but the two nations engulfed in the conflict also account for a fifth of all corn and more than half of all sunflower oil. The two nations are responsible for over a third of the wheat imported to the 45 least developed countries.
Since the beginning of this year, the prices of gas and fertilizers have risen by more than 200%. The prices of wheat and corn prices have also increased by 30% while Brent crude oil prices have gone up by more than 60%.
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) said that the Russia-Ukraine conflict will downgrade forecasts for 143 economies this year, which collectively constitute 86% of the world`s GDP. Recently in a joint statement, chiefs of the World Food Program (WFP), World Trade Organization (WTO), World Bank and IMF had also called for urgent, coordinated action to address food security amid the fallout of the Ukraine crisis, which is adding to the still ongoing Covid-19 pandemic.
While the wealth and number of billionaires have increased after the global market recoveries post various lockdown periods, the number of those facing scarcity of food and basic commodities has also increased to a great extent. Guterres called for global reforms that would change the world`s financial system “that makes the rich richer, and the poor poorer.”
