
While the whole world will feel the effects of inflation and the reverberations of Russia’s invasion of Ukraine, the poorest and most disadvantaged countries will also face the most severe effects.
Although the energy sector was the first to feel the effects, the more pressing threat of food shortages is looming. The situation has gone from bad to worse. In many countries COVID-19, internal conflict and various climate disasters have pushed stability to the brink. Food shortages were already an issue because of supply chain problems, but the conflict in the “world’s breadbasket” may be the catalyst for a spiralling disaster.
Russia and Ukraine produce 17% and 10% of the world’s wheat respectively.
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