World Bank chief warns food crisis could last until next year

Xinhua News Agency, Washington, April 20 (Reporter Xiong Maoling and Xu Yuan) World Bank President Malpass said on the 20th that the conflict between Russia and Ukraine has pushed up global food prices, and the poorest people have suffered the hardest. He warned that the current food security crisis will last for several months and may even continue into next year.

Malpas said at a remote media conference at the spring meeting of the International Monetary Fund (IMF) and the World Bank on the same day that the conflict between Russia and Ukraine has led to shortages of food, energy and fertilizer, which are crucial to crop production. the shortage of the three together leads to a food security crisis.

he said that food prices have risen by 37% over the same period last year, exceeding the consumer price index, which means that the poor, who spend a higher proportion of their daily budgets on food, are facing greater pressure.

he said that in the next 15 months, the World Bank is expected to provide 170 billion US dollars of financing support to deal with the crisis.

, Malpass said that the food security problem is very serious, and people in poor countries are most affected. On the positive side, however, global food stocks are currently large and the food shortage problem may improve as stocks are released.

Malpas also said that at the spring meeting, representatives of various countries had substantive discussions on food security issues. He expects countries to develop solutions to alleviate the food crisis.

The IMF and the World Bank hold two plenary meetings each year, including spring and autumn annual meetings. This year's spring conference was held in Washington, D. C., from April 18 to 24.