The IMF anticipates social unrest around the world due to the economic impact of the war in Ukraine

The IMF anticipates social unrest around the world due to the economic impact of the war in Ukraine

Georgieva hinted that the current situation evokes the prelude to the 2011 protests known as the Arab Spring, when an exponential rise in the price of bread sparked anti-government protests in countries in the Middle East and North Africa.

“When prices skyrocket, and the poor can’t feed their families, they will take to the streets,” said.

“One thing we know about problems somewhere, (is that) they travel, they don’t stay there”he added, the Qatari news network Al Jazeera reported.

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FLM

Georgieva called for greater international cooperation to resolve the scarcity of raw materials and energy supplies caused by the Russian invasion of Ukraine, a country that is a major grain exporter and whose agricultural production is slowed down.

Russia is also a large producer of gas, which it sends to Europe through gas pipelines that pass through Ukraine and whose international price has skyrocketed due to the war. “Please work together. Oil producers, gas producers and food producers today are in a position to reduce uncertainty,” he pointed.

Georgieva recalled that Ukraine is a major producer of wheat and called for a quick resolution of the war.

“The faster the tanks go, the faster the tractors will return” to the fields of Ukrainesaid. “By July we need the Ukraine harvest, for food price stability”he added.

Source: Ambito

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