FOR the people of Ukraine, the Russian invasion is a waking nightmare, and a humanitarian disaster on a terrifying scale.We have all seen the tragedy unfolding inside Ukraine: cities flattened; people suffering and dying in their homes and in the streets; and the fastest displacement crisis in Europe since the Second World War.
Many developing countries are still struggling to recover from the effects of the Covid-19 pandemic coupled with historic debt burdens and soaring inflation.Brent oil prices have risen more than 60% over the past year while natural gas and fertiliser prices have more than doubled. But while much of the world has stepped up in solidarity with the people of Ukraine, there is no sign of the same support for the 1.7 billion other potential victims of this war.The Global Crisis Response Group on Food, Energy and Finance that I launched last month aims to develop coordinated solutions to these interlinked crises with governments, international financial institutions and other key partners. I thank the global leaders in all sectors who are supporting this initiative.
Humanitarian appeals must be fully funded, including for the World Food Programme. We simply cannot allow people to starve in the 21st century. And on finance, the G20 and international financial institutions must go into emergency mode. They must find ways to increase liquidity and fiscal space so that governments in developing countries can invest in the poorest and most vulnerable, and in the Sustainable Development Goals.
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