Browse > Home / Wars, Rumors of Wars & Terrorism / IMF Warns Rising Food Prices Raising Risk of War

IMF Warns Rising Food Prices Raising Risk of War

April 13, 2008

Rising food prices could have terrible consequences for the world, including the risk of war, the IMF has said, calling for action to keep inflation in check.

“Food prices, if they go on like they are doing today … the consequences will be terrible,” International Monetary Fund managing director Dominque Strauss-Kahn said.

“Hundreds of thousands of people will be starving … (leading) to disruption of the economic environment,” Strauss-Kahn told a news conference at the close of the IMF spring meeting here.

Development gains made in the past five or 10 years could be “totally destroyed,” he said, warning that social unrest could even lead to war.

“As we know, learning from the past, those kind of questions sometimes end in war,” he said. If the world wanted to avoid “these terrible consequences,” then rising prices had to be tackled.

Skyrocketing prices on rice, wheat, corn and other staple foods like milk particularly hurt developing nations, where the bulk of income is spent on the bare necessities for survival.

Higher energy prices, too, are driving up the cost of food, as well as stoking broader inflation.

In recent months, rising food costs have lead to social unrest in several countries such as Haiti and Egypt. Thirty-seven countries currently face food crises, according to the Food and Agriculture Organization.

Escalating inflation is complicating the already complex challenges of a global financial crisis battering the world economy, Strauss-Kahn said.

The 185-nation IMF called for a strong front to put the reeling world economy back on track.

Source

If this is your first time visiting Bible Prophecy In The News, I'd like to invite you to subscribe to our RSS feed. Thanks for visiting!

Written by admin · Filed Under Wars, Rumors of Wars & Terrorism 

Comments

Got something to say?