IMF, WHO and World Bank call for lifting trade restrictions

The elimination of restrictions on international trade would help deal with the global food security crisis, the United Nations agency for Food and Agriculture (FAO), the World Food Program (WFP) announced this Friday through a joint statement. ), the International Monetary Fund (IMF), the World Bank Group (WBG), and the World Trade Organization (WTO).

The report notes that the covid-19 pandemic, the disruption of international supply chains and the conflict in Ukraine left a serious impact on the food, fuel and fertilizer markets. As of June, a total of 345 million people in 82 countries were suffering from "acute food insecurity" to the point that their lives were in danger, the authors warned.

Experts warn that the situation was aggravated by the decision of nearly 25 countries to impose restrictions on food exports that affect more than 8% of world trade. On the other hand, there was also a spike in fertilizer prices, which doubled in the last year.

The statement stresses that actions such as "facilitating trade and improving the functioning and resilience of global food and agriculture markets [...] are essential." "The 2008 crisis taught us that imposing restrictions on global trade leads directly to increases in food prices. Removing export restrictions and adopting more flexible inspection and licensing processes help to minimize supply interruptions and lower prices," they said in this regard.

In this context, the authors of the statement summarized their proposals aimed at dealing with the crisis through a series of "short and long-term actions", which consist of "providing immediate support to the vulnerable, facilitating international trade and supply of food, boost production and invest in climate-resilient agriculture.