The World Bank has warned against short-term policy decisions to tackle food insecurity.
Ayhan Kose Director of the World Bank’s Prospects Group, says while food inflation has hit a record high, some policy directions could send economies into the red.
Responding to the crisis with measures such as export bans, food, and fuel subsidies, and price controls should be avoided, he said on Tuesday.
Instead, the World Bank is encouraging targeted relief for vulnerable groups.
He said countries that go ahead and introduce the measures being warned against should definitely have clear “sunset clauses” attached, meaning there should be a fixed time for the measures to expire.
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Yvad Billings Readers Bureau, Contributor
Edited by Jesus Chan
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