UN:Food, energy, & finance. Perfect 3D-Crisis Storm. War could lead to a "three-dimensional crisis"

[Yorkie Mom]

UN warns world is on the brink of a "perfect storm" as Ukraine war escalates multiple global crises

The United Nations Secretary-General has warned that the world is on the brink of a "perfect storm" as the war in Ukraine exacerbates an already struggling global economy.

In a press release Wednesday, the UN said the war could lead to a "three-dimensional crisis" of food, energy and finance -- areas that have already been hit hard by Covid-19 and climate change.

"We are now facing a perfect storm that threatens to devastate the economies of developing countries," António Guterres said.

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"Above all, this war must end. We need to silence the guns and accelerate negotiations towards peace, now."

"For the people of Ukraine. For the people of the region. And for the people of the world."

More: https://www.cnn.com/europe/live-news/ukraine-russia-putin-news-04-14-22/h_3892ebcd2f346b787d08dc1759c63bf6

[Yorkie Mom]

1. Related: The war in Ukraine could be devastating for global food security

Africa is very dependent on Russia & Ukraine exports for food

The war in Ukraine could be devastating for global food security

CNN visited the Philips Atakele Bakery in Lagos, Nigeria where the intense work was, until recently, profitable and worthwhile.

However, rising inflation in Nigeria and the war in Ukraine could significantly impact production and soaring costs mean the bakery can only produce half of what it used to.

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"Our flow has been very expensive, the prices are changing constantly."

According to the United Nations, Russia and Ukraine provide around 30% of the wheat and barley consumed globally.

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"The war is starting at one of the worst times," Wandile Sihlobo, chief economist at the Agriculture Business Chamber of South Africa, told CNN.
"We were already in a recovery mode. Apart from that there were already inflationary pressures across the world."

"Africans are spending a lot on fuel and a lot on food and at this current moment this is a tough time for the continent."

More: https://www.cnn.com/europe/live-news/ukraine-russia-putin-news-04-14-22/h_1b9a1b96e884f3010c5ba686fd68aba4

[Yorkie Mom]

2. Sri Lanka already feeling the strain

Link to tweet