The United States and other G7 and G20 countries are developing a plan to respond to the food security crisis caused by Russia’s invasion of Ukraine. A group of agricultural ministers and financial experts, including U.S. Treasury Secretary Janet Yellen, met Tuesday. “We’re facing rising global food insecurity with it hitting vulnerable people hardest. Some countries and regions, already food insecure and facing emergencies, are now confronting additional prices increases and supply disruptions for imported food, fuel and fertilizers.” To help those countries, solutions include eliminating export barriers and relieving price controls. Those attending the meeting, like World Bank President David Malpass, will also provide financial support. “Our package includes Ukraine, the countries hosting the refugees near Ukraine and developing economies. The money is in the range of $50 billion in the current quarter of 2022 and I think it can reach $170 billion through June 2023.”
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