The U.S. Treasury Department along with several global development banks and other groups on Wednesday announced a multi-billion dollar plan to hopefully blunt a worldwide food security crisis "worsened by Russia's war in Ukraine," The Associated Press reports.
"The economic outlook globally is challenging and uncertain," U.S. Treasury Secretary Janet Yellen said Wednesday. "And higher food and energy prices are having stagflationary effects, namely depressing output and spending and raising inflation all around the world." Considering Russia and Ukraine produce a third of the global wheat supply, the conflict has sent food prices soaring.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Ozempic can curb alcohol cravings, study findsSpeed read Weight loss drugs like Ozempic and Wegovy may also be helpful in limiting alcohol consumption
-
'Eras are an imprecise tool to make sense of the messy past'Instant Opinion Opinion, comment and editorials of the day
-
Magazine solutions - February 21, 2025Puzzles and Quizzes Issue - February 21, 2025
-
What will Trump-Putin Ukraine peace deal look like?Today's Big Question US president 'blindsides' European and UK leaders, indicating Ukraine must concede seized territory and forget about Nato membership
-
Ukraine's disappearing armyUnder the Radar Every day unwilling conscripts and disillusioned veterans are fleeing the front
-
Cuba's mercenaries fighting against UkraineThe Explainer Young men lured by high salaries and Russian citizenship to enlist for a year are now trapped on front lines of war indefinitely
-
Ukraine-Russia: are both sides readying for nuclear war?Today's Big Question Putin changes doctrine to lower threshold for atomic weapons after Ukraine strikes with Western missiles
-
What would happen if Russia declared war on Nato?In depth Response to an attack on UK or other Western allies would be 'overwhelming'
-
Are Ukraine's F-16 fighter jets too little too late?Today's Big Question US-made aircraft are 'significant improvement' on Soviet-era weaponry but long delay and lack of trained pilots could undo advantage against Russia
-
Ukraine's stolen childrenUnder the Radar Officially 20,000 children have been detained since Russia's invasion in 2022, but the true number is likely to be far higher
-
The Russian war in Ukraine: a timelineIn Depth The most important days to know in the Russo-Ukrainian War
