IMF issues warning on global food prices

By RT International

Food price inflation may soar now that the Ukrainian grain deal has been terminated, a spokesman says

The International Monetary Fund (IMF) on Wednesday warned that the termination of the Black Sea grain deal threatens to exacerbate global food insecurity and cause prices to surge, especially in poorer countries.

The UN-brokered deal between Russia and Ukraine, enabling safe passage for Ukrainian agricultural exports via the Black Sea, was scrapped earlier this week.

“The discontinuation of the initiative impacts the food supply to countries that rely heavily on shipments from Ukraine, in particular in North Africa, the Middle East, and South Asia,” an IMF spokesperson said, as cited by Reuters.

Read Full Article Here…(rt.com)

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