Saturday, June 15, 2024
spot_img
HomeNewsCaribbean NewsFood crises: A double burden

Food crises: A double burden

    • The effects of food price increases and currency depreciations on food import bills

GENEVA, Switzerland – This new UNCTAD note assesses the potential effect of high prices of wheat and concurrent currency devaluations on the import bills of selected developing countries.

The price of food has increased everywhere, reaching historic levels in 2022. This is a challenge for food security globally, but particularly for net food-importing developing countries.

And unlike in previous food crises, they now face a double burden. They not only pay higher prices for the food they import, but the price increase is exacerbated by the depreciation of their currency vis-à-vis the US dollar.

This erodes the fiscal space that many developing countries need to face the concomitant challenges of recovering from the COVID-19 pandemic, the cost-of-living crisis, and the climate emergency.

spot_img
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img
spot_img

Caribbean News

BVI signs CIP for additional technical assistance

By Government of the British Virgin Islands ROADTOWN, Tortola - Premier Dr Natalio D. Wheatley has signed the British Virgin Islands’ (BVI) second United Nations...

Global News

‘The people want this war to end and so do we’ says WFP deputy executive director from northern Gaza

JERUSALEM, (WFP) – As fighting escalates in the south and centre of Gaza, the toll on civilians is devastating, and the continued hostile operating...