Global public debt, the highest seen in 60 years, is causing a spike in food insecurity, according to this new report. This is especially true for low-income countries where around 60% are facing a debt crisis and debt servicing costs have gone up due to the depreciation of their currencies against the dollar. Recent global happenings — the Russia-Ukraine war, supply chain disruptions caused by the pandemic and rising energy costs — have driven up food prices so much so that food import bills have increased by nearly $5 billion in some of the poorest countries. The International Panel of Experts on Sustainable Food Systems (iPES Food) argues in the report that unsustainable and inequitable global food systems are in fact deepening the debt crises, exposing a debt and hunger loop that’s forcing countries to choose between feeding people and repaying debt.
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