The International Monetary Fund, IMF, has warned Nigeria and other African countries of the possibility hunger-related social unrests ahead, as a direct consequence of Russia’s invasion of Ukraine.
This was contained in its Sub-Saharan Africa Regional Economic Outlook released in Washington DC, United states of America, yesterday.
Africa is said to depend on Russia and Ukraine for about 50 percent of its wheat import.
The Director, African Department, Abebe Selassie who virtually briefed the press said food price increases will hurt the most vulnerable and may add to social tensions, particularly in fragile and conflict-affected states.
The Fund said that the Russian invasion of Ukraine has adversely affected the entire global economy, with commodity prices raising inflation trends across the world.
Mr. Selassie, who briefed the press on the outlook noted that African policy makers faced challenges of high inflation, rising debt , as well as, hunger-related social unrests and must act fast to address them, though noting that there was little room to maneuver.