• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Agribusiness

IMF warns of impending food security issues in Ghana

3 years ago
in Agribusiness, highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
99
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

IMF warns of impending food security issues in Ghana

The International Monetary Fund (IMF) has cautioned against impending food security issues for Ghana and other African countries as the war between Russia and Ukraine continues.

The Fund said Russia’s invasion of Ukraine has pushed food and energy-related commodities to record levels on the global market. 

According to IMF’s Regional Economic Outlook Report, the Fund was worried that the development could hurt already struggling economies in the region.

IMF, in the report, maintained that food prices, which account for about 40 per cent of consumer spending in the region, are rising rapidly.

Around 85 per cent of the region’s wheat supplies are imported. Higher fuel and fertiliser prices also affect domestic food production.

The Fund added, “Together, these factors will disproportionately hurt the poor, especially in urban areas, and will increase food insecurity.”

RelatedPosts

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash

Defence Minister and Environment Minister Among 8 Confirmed Dead in Military Helicopter Crash

Serie A Players Face 25% Pay Cut if Relegated Under New Agreement

On fuel prices, the IMF noted that higher oil prices will boost the import bill for the region’s oil importers by about $19 billion, worsening trade imbalances and raising transport and other consumer costs.

Oil-importing fragile states will be hit hardest, with fiscal balances expected to be disrupted.

The shock makes an already delicate fiscal balancing act more difficult: increasing development spending, mobilising more tax revenues, and containing debt pressures.

Read: Government will have to print money in order to pay public sector workers – Prof Adei

Fiscal authorities generally aren’t well-positioned for additional shocks after the pandemic. Half of the region’s low-income countries are already in or at high risk of distress.

Rising oil prices also represent a direct fiscal cost for countries through fuel subsidies, while inflation will make reducing these subsidies unpopular.

Spending pressures will only increase as growth slows, while rising interest rates in advanced economies may make financing more costly and harder to obtain for some governments.

The increase in commodity prices due to the war in Ukraine, especially for food and energy, has compounded recent inflationary pressures in many countries.

Since output levels remain well below pre-pandemic trends in most countries, central banks face a difficult balancing act between curbing inflation and supporting growth.

To navigate this trade-off, central banks will need to monitor price developments carefully, stand ready to increase rates if inflation expectations drift up, guard against the financial stability risks posed by higher interest rates, and maintain a credible policy framework underpinned by strong central bank independence and clear communication.

Some have already started to increase interest rates, and more tightening may be needed in many cases.

Tags: food security issuesghanaIMFIMF warns of impending food security issues in Ghana
No Result
View All Result

Highlights

Osaka and Keys Advance to Quarter-Finals at Canadian Open

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

Cedi Appreciation Triggers 50% Drop in Remittance Inflows

Inflation Drops 160 basis points to 12.1% in July, Lowest Rate Since October 2021

Kwaku Azar Writes: Is Another SML Brewing at GACL?

GRA Refutes NIA’s Debt Claims, Cites Lack of Regulatory Approval and Service Agreement

Trending

Features

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash

August 6, 2025

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash Ghana...

Defence Minister and Environment Minister Among 8 Confirmed Dead in Military Helicopter Crash

August 6, 2025

Serie A Players Face 25% Pay Cut if Relegated Under New Agreement

August 6, 2025

Osaka and Keys Advance to Quarter-Finals at Canadian Open

August 6, 2025

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

August 6, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.