UNB: The war in Ukraine is aggravating a triple food, energy and financial crisis across Africa, according to UN Secretary-General António Guterres.
The war in Ukraine is a human tragedy which can have “a dramatic impact on economies, in particular, those of developing countries,” Guterres said during his recent visit to Senegal’s Dakar.
It is driving up global food and fuel prices; senior UN officials are concerned that rising costs will push more people into hunger and could lead to political instability and social unrest in some parts of Africa, where food prices have increased by a third since last year.
Before the Russian invasion began in February, the combination of climate change, conflict and the Covid pandemic was already impacting the socio-economic situation in Africa, especially in the Sahel region, which includes Senegal.
Guterres said: “we must ensure a steady flow of food and energy in open markets, removing all unnecessary export restrictions,” adding that “countries must resist the temptation to hoard and instead release strategic stocks of energy.”
The UN estimates that a quarter of a billion people could be pushed into extreme poverty this year, caused by the consequences of the conflict in Ukraine.
International financial institutions have a key role to play and “must urgently provide debt relief by increasing liquidity and fiscal space,” the UN Chief said, “so that governments can avoid default and invest in social safety nets and sustainable development for their people.”
In March 2022, the UN chief established the Global Crisis Response Group on Food, Energy and Finance (GCRG) set up in response to the crisis provoked by Russia’s invasion of Ukraine, saying that the invasion was producing alarming effects on the world economy already battered by Covid and climate change.
The GCRG, calls on countries to find creative ways to finance increased humanitarian and development recovery needs worldwide and to give generously and immediately release funds that they have already pledged.
