Export bans could worsen global food insecurity: IMF

The IMF cautioned this week that the ongoing food insecurity crisis across the world could worsen if countries go forward with their export bans.

At present, over 30 countries have imposed export bans on selected crops and produce to ensure there is enough supply to cater to the local demand. India came under fresh spotlight recently for imposing a ban on wheat exports which resulted in prices increasing in domestic markets.

“I would beg India to reconsider as soon as possible because the more countries step into export restrictions, the more others will be tempted to do so,” said IMF Managing Director Kristalina Georgieva in an interview with NDTV at the World Economic Forum at Davos.

She cautioned that more nations following suit would result in the global community being less equipped in dealing with the ongoing crisis, and the crisis that is to come in the future.