April 29, 2022- 7:55 p.m.
Rising Food and Fuel Prices Stoke Risk of Unrest in Africa
Surging food and energy prices stoked by the war in Ukraine may lead to “social unrest” in Africa, the International Monetary Fund has warned.
Most countries south of the Sahara are already seeing a slowdown in economic growth from last year due to the COVID-19 pandemic, and the impact will be amplified by the rising cost of cereals and fuel, it said on Thursday.
“The war in Ukraine has triggered a sharp increase in energy and food prices that could undermine food security in the region, raise poverty rates, worsen income inequality, and possibly lead to social unrest,” the Fund said in its annual Regional Outlook for Africa.
Abebe Aemro Selassie, head of the IMF’s African department, told AFP that he was “very worried” by the twin impact of food and higher fuel costs—something particularly felt in the great majority of African countries that are not oil or gas exporters.
“This is a shock that hits in a laser light, directed at the poorest,” he said.
“Fuel price increases feed into transportation costs, and people providing goods and services will raise their prices because they are now facing higher input costs.”
