Soaring global food and energy prices have forced 71 million people into poverty in the world’s poorest countries, according to a United Nations Development Program report published Thursday. Read more👇
Soaring global food and energy prices have forced 71 million people into poverty in the world’s poorest countries, according to a United Nations Development Program report published Thursday.
To address the growing issue, the UNDP said “targeted cash transfers to households are more equitable and more cost-effective than blanket energy subsidies,” but the UN agency added that governments will “need support from the multilateral system to make ends meet.” The report examined 159 countries, and found the situation to be most critical in the Balkans, the Caspian Sea region and sub-Saharan Africa, particularly in the Sahel.“Unprecedented price surges mean that for many people across the world, the food that they could afford yesterday is no longer attainable today,” said UNDP head Achim Steiner.
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