Indonesia calls for G20 ministerial forum to tackle food crisis
Indonesian Finance Minister Sri Mulyani Indrawati called for a joint forum involving G20 finance and agriculture ministries to come up with concrete action to tackle growing food insecurity and a looming fertiliser supply crisis – as reported by Reuters
Food insecurity is one of the top issues on the agenda at the G20 meeting of financial leaders in Bali. Indonesia is concerned about growing economic pressure due to soaring inflation. Minister of Finance Sri Mulyani noted that the world is facing an alarming global famine due to export restrictions and the lingering effects of the pandemic. According to her, halting and cutting off fertiliser supplies could exacerbate the food crisis in 2023.
US Treasury Secretary Janet Yellen at the same meeting urged G20 members to increase their spending to tackle existing food security concerns. During the discussion, World Trade Organisation (WTO) Director-General Ngozi Okonjo-Iweala said that there is a risk of redirecting supplies of grain, vegetable oil and fertilisers from poorer countries to richer ones, ‘the experience with COVID-19 vaccines may be repeated’.