This year has been turbulent. The aftermath of the COVID-19 pandemic and the war in Ukraine are weighing on the future. Low-income countries are particularly affected for various reasons.
Firstly, food inflation, driven by disruptions in production chains, is a major concern. According to the World Bank report, at least 59% of low-income economies have inflation rates exceeding 5%.
This situation has been exacerbated by rising energy costs, severely impacting households in some low-income countries, mainly in South Asia, South America, and Africa.
Ultimately, this food inflation raises fears of increased poverty, malnutrition, and famine in these countries, which could hinder the development efforts undertaken in recent years.
