December 2, 2022

Dubai Week

Complete Dubai News World

After the end of the data .. A "Cold War" between Saudi Arabia and the International Energy Agency

After the end of the data .. A “Cold War” between Saudi Arabia and the International Energy Agency

Kovit as a result of the war on Ukraine, due to epidemics, inequality and high food prices, the dark picture created by the British charity “Oxfam” for the world’s least fortunate people in the future.

According to the FAO, rising global food prices will push an additional 263 million people into extreme poverty this year, the equivalent of populations in the United Kingdom, France, Germany and Spain.

The World Bank expects epidemics and inequality to push an additional 198 million people into extreme poverty by 2022.

Now, as food prices rise, Oxfam expects another 65 million people to join.

In addition to the predicted extreme poverty figures, millions of people are already suffering from severe famine in East and West Africa, Yemen and Syria.

The number of malnourished people will reach 827 million this year.

These numbers came New report The organization was released on Tuesday, ahead of meetings of the World Bank and the International Monetary Fund next week to discuss subsequent global crises.

Oxfam says a growing number of governments are failing to repay their debt and need to cut public spending on paying debtors and importing food and fuel.

The poorest countries in the world are about to repay $ 43 billion in debt.

Since world food prices soared to an all-time high last February at the height of the 2011 crisis, these sums alone can offset the cost of food imports to these countries.

In rich countries food costs account for 17 percent of consumer spending, reaching 40 percent in sub-Saharan Africa.

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The report also said that despite the high prices, most workers around the world continue to have low wages.

The corona epidemic has exacerbated existing gender inequality, with the number of working women declining by 13 million by 2021 compared to 2019, while the male employment sector is recovering and reaching 2019 levels.

Although the epidemic has depleted the treasuries of all governments, the economic challenges facing developing countries are still high, “without equal access to vaccines and now forced to take austerity measures.”

In light of this reality, UNICEF official Katie Emperor went beyond sending aid, calling for a “massive response to the catastrophe facing humanity.”

He proposed to cancel loans to low-income countries so they could invest in social security nets, and imposed progressive taxes on the rich to provide funds to protect the most vulnerable.

According to the report, debt cancellation will save more than $ 30 billion in 2022 alone, benefiting 33 countries already affected or at risk of debt.

In terms of taxes, $ 2.52 trillion a year can be raised by levying a property tax of 5 percent on billionaires, starting at just 2 percent.

These funds will be able to lift 2.3 billion people out of poverty, create adequate vaccines for the world, and provide global health and social security.

The organization proposed a one-time tax to fund recovery from the epidemic, saving Argentina $ 2.4 billion, set aside to cover the costs of recovering from the epidemic, as imposed by the “millionaire tax”.

Gabriella Butcher, Oxfam’s International Managing Director, warned that “without immediate, drastic action, great poverty and misery can be remembered.”

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The Food and Agriculture Organization of the United Nations (FAO) said last week that food prices had risen more than ever due to the war in Ukraine.

The Middle East and Africa are expected to be particularly affected as grain imports from the Black Sea region are blocked.

And download EU foreign policy chief Joseph Borel on Monday blamed Russia for exacerbating the global food crisis due to the war, especially after the bombing of wheat shops and the shipwreck of ships carrying grain abroad.

Expect The World Bank, in a recent report, predicts that GDP will shrink by 4.1 percent this year, with all developing and developing countries in Europe and Central Asia expecting 3 percent growth before the war.

This percentage is worse than the recession caused by the Govt epidemic in 2020 (1.9 percent).