The war in Ukraine has disrupted supplies of grain and fertilizer, producing the worst food shortages since the global financial crisis of 2007 and 2008, the International Monetary Fund (IMF) said.
According to the report, about 345 million people face life-threatening food shortages, reports Reuters.
The IMF estimates that the 48 countries most exposed to food shortages will face a total increase in import costs of $9 billion in 2022 and 2023, due to a sharp increase in food and fertilizer prices.
This, the report says, will deplete the reserves of many countries that are already facing problems caused by the coronavirus pandemic, rising energy prices and war conflicts.
“We estimate that this year alone, the most exposed countries need seven billion dollars to help the poorest households,” IMF Director Kristalina Georgieva said.