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G20 called to take steps against world hunger
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25 April 2011 |
On April 15, 2011, all ministers of Finance of the G20 nations met in Washington around the spring meetings of the IMF and the World Bank. As part of the event, the two international organizations called upon the G20 nations to focus on an urgent issue––the fight against world hunger.
Speaking about the recent food price spike that affects the poor hardest in developing countries, World Bank President Robert Zoellick stated that "we are at a real tipping point." Faced with this situation, he and IMF Director-General Dominique Strauss-Kahn each advocated a better control of food prices and price volatility of agricultural commodities. "The world can do something about this," stated the World Bank chief.
Incidentally, Washington announced several days later its intention to contribute an additional $100 billion to the Global Agriculture and Food Security Program (GAFSP), the international fund managed by the World Bank to fight world hunger. The United States is hoping that this initiative will induce its G20 partners to follow suit.
The G20 nations are now called to action to take part in the fight against world hunger, and this is quite an innovative issue. Indeed, the international community is now acknowledging that there is a direct link between financial speculation, commodity––especially agricultural commodity––price volatility, and world hunger. By doing so, it actually proves the need to implement a global agricultural governance system bringing together all appropriate institutions to transversally and globally address these different issues. |
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Advocating for
agricultural market
regulation and global
food governance | |
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