|
|
Zimbabwe: Country Among African Countries Facing Food Crisis
 |
|
|||||||||
|
||||||||||
Financial Gazette (Harare)
16 May 2008
Posted to the web 16 May 2008
Harare
ZIMBABWE is one of the African countries likely to be hardest hit by rising food prices, an international news agency reported, citing an African Development Bank (AfDB) chief economist, Louis Kasekende.
Kasekende told Reuters that Zimbabwe was one of the African countries expected to bear the brunt of surging global food and oil prices, which would hit harder countries with higher levels of poverty.
Poverty in Zimbabwe is estimated at 80 percent of the population, with millions of people having been forced out of jobs due to an economic crisis that has resulted in company closures as well as streamlining of operations by those that still remain in business.
Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono said in his monetary policy statement two weeks ago that the unfolding global food crisis would have far reaching implications on national economic policy making and implementation.
"The devastating fangs of the global food crisis are biting and cutting into the livelihoods of every household across the globe, especially among the vulnerable members of society," Gono said.
He said without food security, no credible and sustainable economic turnaround programme could be implemented in Zimbabwe.
Zimbabwe is currently experiencing its worst economic crisis in history, characterised by runaway inflation and food and foreign currency shortages.
Reuters quoted Kasekende saying: "The shock relating to the high energy and food prices, presents a more serious threat to Africa, these large and sudden prices have now started to have severe implications in many Africa countries."
Kasekende said increased inflationary pressures from higher food and energy prices were threatening fiscal stability and the AfDB would give financial assistance to some countries to produce more food and cut European and American imports.
"We need to focus on increasing productivity within the agricultural sectors," Kasekende said.
"We also need to strengthen the cross-border connectivity so that countries that have a food surplus can start export to neighbouring countries that are facing shortages", he said.
|
Other countries to be hardest hit by the global food crisis include Ghana, Mauritania, Liberia, Guinea Bissau, Eritrea, Djibouti, the Gambia and Senegal, the AfDB economist said.
| |||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Copyright © 2008 Financial Gazette. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections -- or for permission to republish or make other authorized use of this material, click here. | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Make allAfrica.com your home page | RSS Feed | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Top | Site Guide | Who We Are | Advertising | Search | Subscribe | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Questions or Comments? Contact us. Read our Privacy Statement. | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
