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The International Monetary Fund (IMf) said on Monday that up to 20 countries, many in Africa, could need emergency assistance to cope with the global food crisis.
IMF Managing Director Kristalina Georgieva, speaking at a conference in Saudi Arabia, also said that 141 million people across the Arab world are exposed to food insecurity.
The IMF on Friday approved a new food shock borrowing window under its existing emergency financing instruments to help vulnerable countries cope with food shortages and high costs stemming from Russia’s war in Ukraine.
Georgieva said that 48 countries around the world are particularly exposed to the food crisis.
“Of the 48 countries, about 10-20 are likely to be asking (for emergency assistance),” Georgieva said, adding that “quite a lot of them” are in sub Sahran Africa.
“We are here for you,” she promised members at the event.
The IMF will add its voice to fight food trade restrictions in order to ease the situation and plans to fund the food shock window using last year’s Special Drawing Rights (SDR) allocations.
Nigeria and many other African countries have been facing severe food shortages due to insurgency and climate related challenges across the continent and may qualify for the IMF emergency food aid.
The call comes amid the African Development Bank (AfDB), advocay for increased financing to reduce the effects of climate change and food insecurity in Africa.
AfDB President, Dr. Akinwumi Adesina made the call when he led a delegation from the bank to the just concluded 77th session of the United Nations General Assembly (UNGA) in New York.
A statement issued by the bank’s Communication and External Relations Department on Monday in Abuja, said Adesina played an active part in discussions leading to an international declaration to end malnutrition and stunting.
The statement said climate change was a recurring theme in many of the bank’s discussions, especially the need for urgent financing for the countries most at risk.
Speaking at the second ministerial meeting on climate and development, the AfDB president joined U.S. Special Presidential Envoy for Climate, John Kerry and other participants.
“They joined in urging developed countries to deliver on the pledges they made at COP26 in Glasgow under the 2015 Paris agreement.
Adesina echoed the call for urgent action and warned that Africa was suffering.
The statement quoted Adesina as saying, “Africa is choking and is in serious financial distress for what it did not cause.”
