The IMF launches the Food Shock Window to aid countries facing food shortages by expanding access to rapid, low-interest loans. The number of people facing food shortages rose by more than 200 million since the pandemic.
“All over the world people are struggling with food shortages because of the pandemic, the Ukraine war and soaring prices spurred by inflation,” said Eric LeCompte, Executive Director of Jubilee USA. "The IMF's action helps countries wrestling with food crises."
In 45 countries, 50 million people are on the verge of famine, the World Food Programme reported.
“The growing global food crisis can push countries into social unrest and instability,” added LeCompte. “While the Food Shock Window helps, it is only buying time. More loans as many countries struggle to pay debts is not a long-term answer."
Sixty per cent of the poorest countries and 30 per cent of developing middle-income ones are at risk of debt crises.