The price of food has increased everywhere, reaching historic levels in 2022. This is a challenge for food security globally, but particularly for net food-importing developing countries. And unlike in previous food crises, they now face a double burden. They not only pay higher prices for the food they import, but the price increase is exacerbated by the depreciation of their currency vis-à-vis the US dollar. This erodes the fiscal space that many developing countries need to face the concomitant challenges of recovering from the COVID-19 pandemic, the cost-of-living crisis, and the climate emergency.
this note assesses the potential effect of high prices of wheat and concurrent currency devaluations on the import bills of selected developing countries.
Policy recommendations
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Providing targeted and sustained social protection programmes to shield vulnerable households in developing countries.
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Supporting multilateral emergency solutions to provide liquidity to developing countries.
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Relieving developing countries from their financial burden to avoid a widespread debt crisis.
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Maintaining open international markets can help to facilitate a stable and secure supply of food around the world.
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Accelerating transport and trade facilitation initiatives can help to improve delivery of staple food items in domestic markets.


Year of publication | |
Geographic coverage | PeruPakistanMauritiusThailandEgyptEthiopiaGlobal |
Originally published | 08 Mar 2023 |
Related organisation(s) | UN - United Nations |
Knowledge service | Metadata | Global Food and Nutrition Security | Food security and food crises | Food price crisis |
Digital Europa Thesaurus (DET) | developing countriescerealsImportprice of agricultural producecost of livingwar in Ukraineagricultural trade |