Gulf Insider
The United Nations food agency is sounding a catastrophic alarm on the macroeconomic fallout of the ongoing conflict in Iran and the Persian Gulf region. According to the World Food Programme (WFP), millions of people are actively being plunged into acute hunger due to the war – realizing a grim trajectory the agency previously warned would occur if the Middle East crisis stayed prolonged and global oil prices remained elevated. Fragile economies are feeling the most pain, with WFP analysis of three highly vulnerable nations revealing that an additional 2.5 million people in Somalia, 2.3 million in Afghanistan, and 1.3 million in Sri Lanka are currently struggling to meet their most basic daily nutritional needs. Back in March, the WFP estimated that a staggering 45 million people globally could be pushed into severe food insecurity by the end of June, compounding the over 300 million people globally who were already facing critical food shortages before the war erupted. The Rome-based UN agency issued a new detailed assessment at the end of this past week, describing how that the Middle East crisis is actively generating “significant spillovers” – by driving up the cost of food and fuel while heavily disrupting global […]
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