IMF wants judicious spending and warns of food insecurity in Africa's 12%

The International Monetary Fund (IMF) yesterday called on sub-Saharan African governments to be judicious in their policymaking and public spending in light of the forecast that more than 12% of Africans face food insecurity.

"Addressing the lack of resilience to climate change and the resulting chronic food insecurity will require careful prioritization of policies, given financial and capacity constraints," the Fund says in a new report cited by Lusa, in which it states that at least 123 million people, or about 12% of the region's population, "may become extremely food insecure, severely malnourished or unable to meet their basic food needs."

Global warming is contributing to an increase in the number of hungry people, with East Africa experiencing one of the worst droughts in its history, which follows the consequences of the covid-19 pandemic and the impact of the war in Ukraine, which has led to a spike in the price of food grains, the Fund says in the text quoted by Agence France-Presse.

The impact on the economy of the covid-19 pandemic has combined with a spike in grain prices fueled by the war in Ukraine, the IMF also points out.

Despite the many challenges, some trade, regulatory and market liberalization reforms are feasible, the IMF says, warning against the temptation to help by intervening in agricultural production and food distribution.

"Unfocused interventions can be inefficient and can weigh on national budgets, increase food prices, impede competition, and reduce crop yields," reads the Washington-based text, which notes that "price controls and lengthy regulatory processes contribute to shortfalls in food availability by discouraging food production, storage, and trade.

Rather, the IMF recommends "localized government involvement, such as support in research and development for building agricultural resilience and productivity."

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