Image: Reuters Berita 24 English - Sri Mulyani Indrawati , the finance minister of Indonesia , called on the G20 finance and agriculture m...
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| Image: Reuters |
Berita 24 English - Sri Mulyani Indrawati, the finance minister of Indonesia, called on the G20 finance and agriculture ministries to convene in a combined session on Friday to develop practical solutions to the world's growing food insecurity and a crisis in the availability of fertiliser.
One of the main topics of the G20 conference of financial leaders in Bali is food hunger. Host Indonesia has been working to forge consensus in a group that has been shaken by the conflict in the Ukraine and the mounting economic strains brought on by skyrocketing inflation.
Because of the conflict, export limitations, and the pandemic's lasting effects, according to Sri Mulyani, there is an alarming amount of hunger in the world. According to her, the possibility of a fertiliser supply issue may make the food crisis worse well into 2023 and beyond.
Last year, comparable joint sessions were organised for the finance and health ministries to discuss issues including uneven COVID-19 vaccine distribution.
According to Sri Mulyani, "The G20 has been doing this successfully for finance and health...we do hope that the same thing can be also established by strengthening our ability to mobilise not only financing but most importantly policy coordination across countries and supported by international organisations."
At the same summit, U.S. Treasury Secretary Janet Yellen urged G20 participants to increase their investment to address current food security issues.
According to Yellen, poor households in the poorest nations were most immediately impacted, which slowed down development and undermined attempts to end poverty.
She cited "the destruction of agricultural facilities, theft of grain and farm equipment, and the successful blockade of Black Sea ports" as examples of how Russian President Vladimir Putin was "using food as a weapon of war."
Prices for grains, cooking oils, fuel, and fertiliser have skyrocketed as a result of the conflict in Ukraine. Twenty million tonnes of grain are locked in silos at Odesa as a result of Russia's invasion and naval blockade, which has halted exports and left dozens of ships stranded.
The invasion was described as a "special military operation" by Moscow.
Ngozi Okonjo-Iweala, the director general of the World Trade Organization (WTO), stated during the meeting that there was a chance that food supplies may be switched from poorer to wealthy nations, "repeating the events with COVID-19 vaccinations."
