Prices Of Bread Will Be Affected Drastically By Russia-Ukraine Fight – Okonjo-Iweala Cautions
Prices Of Bread Will Be Affected Drastically By Russia-Ukraine Fight – Okonjo-Iweala Cautions
Dr. Ngozi Okonjo-Iweala, the Director-General of the World Trade Organisation, says the Russia-Ukraine war is threatening global economically. DAILY POST reports.
In a statement on Wednesday, Okonjo-Iweala said the organization is saddened by the war, which they hoped would have been averted.
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With the battle raging on and talks between Ukraine and Russia yet to yield results, the WTO is concerned about the implications.
“We are also concerned about the trade implications of the conflict, especially trade in agriculture and food products and the rise in energy prices and their effects on the impacted population,” Dr Okonjo-Iweala said.
Dr Okonjo-Iweala warned that the war in Ukraine, a major wheat exporter, would hurt consumers around the world.
Speaking at a virtual event with IMF Chief, Kristalina Georgieva, Okonjo-Iweala said the war will have a “big impact on Wheat prices and prices of bread for ordinary people as well”.
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