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FAO, IMF, WTO, World Bank raise alarm over food crisis

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The Food and Agriculture Organisation (FAO), International Monetary Fund (IMF), World Bank Group (WBG), World Food Programme (WFP), and World Trade Organisation (WTO) want urgent action to address the global food crisis.

FAO Director-General, Qu Dongyu; IMF Managing Director, Kristalina Georgieva; WBG President, David Malpass; WFP Executive Director, David Beasley, and WTO Director-General, Ngozi Okonjo-Iweala issued a joint statement on Wednesday.

The heads noted that the war in Ukraine continues to worsen the food security and nutrition crisis, triggering higher volatility in energy, food, and fertilizer prices.

They said despite the reprieve in food prices and the resumption of grain exports from the Black Sea, food remained beyond reach for many due to high prices.

Fertiliser markets remained volatile, especially in Europe, where tight natural gas supplies and high prices forced many producers of urea and ammonia to stop operations.

The organizations commended the efforts of the Global Crisis Response Group and the Black Sea Grain Initiative, which has helped to export three million metric tons of grain and foodstuffs from Ukraine.

As part of its efforts, the World Bank is implementing its $30 billion programme to respond to the food security crisis and front-loading resources from the IDA20 Crisis Response Window

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