The COVID-19 pandemic, disruptions in international supply chains and the aftermath of the conflict in Ukraine have greatly disrupted the functioning of food, fuel and fertilizer markets, so today it is necessary to ease the restrictions imposed on Russia, according to a joint statement by the heads of the World Bank (WB), the Food and the UN Agriculture Organization, the IMF, the David World Food Program and the WTO. The statement was published on the WB website .
According to the World Food Programme, 345 million people in 82 countries are currently at risk of food insecurity. At the same time, the statement of the heads of international organizations notes that by now the situation has worsened due to the fact that 25 states have introduced export restrictions on food, affecting more than 8% of world food trade, and fertilizer prices have doubled over the past year.
One of the measures that can help in solving these problems, the leaders of international organizations consider the lifting of restrictions that Western countries have imposed on Russia.
“The 2008 crisis taught us that the imposition of global trade restrictions directly contributes to rising food prices. Lifting export restrictions and introducing more flexible inspection and licensing processes help to minimize supply disruptions and lower prices. Increased transparency through notifications to the World Trade Organization and better monitoring of trade measures will be critical,” the joint statement said.
Also, in order to avoid worsening the situation, the leaders of the organizations call for the following measures: to promote trade and international food supplies, to immediately provide vulnerable segments of the population, to increase production, to invest in agriculture.