WASHINGTON : In a joint statement released today, the heads of the International Monetary Fund, World Bank, and World Food Programme cautioned that sharp increases in the prices of oil, natural gas, and fertilizers are set to ripple across global food systems.
The agencies warned that these rising costs, compounded by transportation bottlenecks, will inevitably drive up food prices and deepen food insecurity, particularly in low-income, import-dependent economies that are already under strain.
“The war in the Middle East is devastating the lives and livelihoods of people in the region and beyond,” the joint statement noted, adding that the crisis has already triggered one of the most significant disruptions in global energy markets in modern history.
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While a temporary two-week ceasefire between the United States and Iran, announced by Donald Trump, has offered a degree of relief, concerns remain high due to ongoing hostilities in other parts of the region, including Israeli strikes on Lebanon.
The three organizations stressed that the impact of the crisis will fall disproportionately on the world’s most vulnerable populations, heightening the risk of hunger and economic instability.
Kristalina Georgieva confirmed that the IMF is working closely with the Food and Agriculture Organization to address the growing threat to global food security.
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