War in Ukraine may cause poverty for 1/5th of humanity, says UN chief

New York: According to UN Secretary-General Antonio Guterres, the Ukraine situation might cause 1.7 billion people to go hungry.

“We all see the tragedy unfolding in Ukraine. But beyond its borders, the war has launched a silent assault on the developing world. The crisis could plunge up to 1.7 billion people, more than a fifth of humanity, into poverty and hunger on a scale not seen in decades,” Guterres stated in a Sunday interview with Seznam Zpravy in Czech.

According to Guterres, Ukraine and Russia produce 30% of the world’s wheat and barley, a fifth of its corn, and more than half of its sunflower oil.

The Ukraine situation is preventing grain exports and disrupting supply lines, driving prices higher. Wheat and corn prices have jumped 30% since the start of 2022, while gas and fertilizer prices have doubled.

Guterres urged global financial reforms to “make the wealthiest richer and the poor poorer.”

The IMF’s Managing Director, Kristalina Georgieva, stated on Thursday that the Ukraine crisis will lower predictions for 143 economies, accounting for 86% of global GDP.

The IMF, World Bank, WFP, and WTO chiefs released a joint statement on Wednesday urging immediate, coordinated action to address food security in the wake of the Ukraine crisis and the ongoing COVID-19 pandemic.

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