Concerns are growing over a worsening food crisis and an economic downturn.
The fears loom over the second day of the World Economic Forum.
The Russian war in Ukraine has caused a supply disruption, with Black Sea ports blockaded by Russian military. This has driven up prices, and created shortages and the risk of famine.
The administrator of the UN Development Program (UNDP) Achim Steiner said that that world is not prepared for what is ahead. “We are in trouble,” he said, explaining there is an acute crisis in food, fuel and finance.
Yesterday, IMF chief Kristalina Georgieva warned that anxiety around access to food is “hitting the roof” around the world.
The head of the UN World Food Program David Beasley warned there is a “devastating hunger crisis” looming, with millions of people globally on the brink of famine.
There were many dire warnings on the opening day of the World Economic Forum in Davos, with a United Nations official saying that Russia’s blockade of Ukraine’s ports is a “declaration of war” that threatens to trigger mass migration and a global food crisis.
Those warnings continued today on the second day, with European Commission Ursula von Der Leyen saying that Russia is “using hunger and grain to wield power” and blackmail other countries.
Von der Leyen in a special address said there were obvious signs of a global food crisis. How Russia weaponized energy supplies is how it is now weaponing food security.
She explained that there are currently 20 million tonnes of wheat stuck in Ukraine, which has created the global shortage, sending wheat prices rocketing around the world.
Europe is opening solidarity lanes, linking Ukraine’s borders to its ports, stepping up its own production, and working with the World Food Program to get supplies to countries that are vulnerable.
Von der Leyen emphasized that global cooperation is the antidote to Russia’s blackmail.
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