Kristalina Georgieva said the invasion of Russia and the resulting sanctions against Moscow forced the world’s poorest to endure the worst
Kristalina Georgieva said the invasion of Russia and the resulting sanctions against Moscow forced the world’s poorest to endure the worst
The head of the International Monetary Fund warns that the global economic strains caused by Russia’s war in Ukraine could fuel civil unrest in the Middle East and beyond.
Speaking at the Doha Forum in Qatar on Sunday, Kristalina Georgieva said the Russian invasion and resulting sanctions against Moscow have forced the world’s poorest to bear the worst of the crisis as they grapple with inflated food costs and dwindling jobs.
Ms Georgieva indicated that the current situation is reminiscent of the preparations for the 2011 uprisings known as the Arab Spring, when skyrocketing bread prices fueled anti-government protests in the Middle East.
“If prices go up and poor people cannot feed their families, they will take to the streets,” she said. “One thing we know about anger in one place, it travels, it doesn’t stay there.” Ms Georgieva called for greater global cooperation to bridge the gaps in resource and energy supplies.
“Please work together,” she said. “Oil producers, gas producers and food producers today have the ability to reduce that uncertainty.” She cited Ukraine’s importance as a top wheat exporter as she urged a speedy resolution to the war.
“The faster the tanks are out, the faster the tractors will be in,” she said. “We need the harvest in Ukraine by July to contribute to the stability of food prices.”
