Germany warns of global food crisis: Davos Update

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(Bloomberg) – Elite members from around the world have returned to Davos after a two-year hiatus due to the epidemic.

The annual meeting of the World Economic Forum is being held at a Swiss ski resort on Monday, although Wall Street and politics have lesser names. However, there is still much to be discussed in the context of the war in Ukraine, including widespread inflation, the risk of food shortages and climate change.

The main event of the first day was a virtual speech by the President of Ukraine Volodymyr Zelensky. Cristalina Georgieva, managing director of the International Monetary Fund, and Franোয়াois Villarre de Galhous, governor of the Bank of France, attended the panel.

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Credit Suisse CEO Thomas Gottstein, IMF’s Georgieva, Standard Chartered CEO Bill Winters, US Special Envoy John Kerry, Carlyle Group co-founder David Rubenstein and Qualcomm CEO Cristiano Aman are interviewed by Bloomberg Tel.

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Germany warns of ‘food disaster’ (8am)

German Economy Minister Robert Habek has said that WEF could help policymakers coordinate strategies on how to deal with a global food “disaster” and reiterated allegations that Russian President Vladimir Putin is arming hunger.

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In an interview with Deutsche Funk radio in Germany, Habeck said, “We should not underestimate the importance of Putin’s brutality. “The task here in Davos is to get us to recognize that hunger is being used as a weapon,” he added. “So it’s good that there’s been a lot of discussion here again and a lot of people are coming.”

WHO envoy warns of life risks (7:55 am)

A special envoy of the World Health Organization warned that 94 countries were facing severe hunger or famine and were at risk of disruption due to rising consumer prices.

Speaking at Edelman’s opening ceremony, David Navarro, Covid-19’s special envoy to the WHO, said: “This cost of living could lead to the worst economic and social challenge we’ve ever seen in four or five decades. Trust the barometer in Davos. Energy shortages are pushing up production costs and leading to fertilizer shortages, potentially affecting 1.7 billion people, he added.

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