IMF head warns that food shortages can topple governments
Last Updated: Friday, April 18, 2008 | 10:19 AM ET
The Associated Press
Related
The head of the International Monetary Fund warned Friday that soaring world food prices can have dire consequences, such as toppling governments and even triggering wars.
Dominique Strauss-Kahn told France's Europe-1 radio that the price hikes that set off rioting in Haiti, Egypt and elsewhere were an "extremely serious" problem.
"The planet must tackle it," he said.
The IMF chief said the problem could also threaten democracies, even in countries where governments have done all they could to help the local population. Asked whether the crisis could lead to wars, Strauss-Kahn responded that it was possible.
"When the tension goes above and beyond putting democracy into question, there are risks of war," he said. "History is full of wars that started because of this kind of problem."
Strauss-Kahn was appointed last year to head the IMF. He was a finance minister in the late 1990s in France.
Also on Friday, French President Nicolas Sarkozy suggested a global partnership among financial institutions, governments and the private sector to tackle the reasons for rising food prices. He also said France is doubling its food aid budget this year to $159 million US because 37 countries are experiencing "serious food crises."
Globally, food prices have risen 40 per cent since mid-2007. The increases hit poor people hardest, as food represents as much as 60-80 per cent of consumer spending in developing nations, compared with about 10-20 per cent in industrialized countries, the UN's Food and Agriculture Organization has said.
Share Tools
Top News Headlines
- Teen struck by lightning in Ottawa dies
- The victim of a Friday lightning strike during a storm in east Ottawa has died, CBC News has learned. more »
- Montreal protesters march in peaceful defiance
- The clanging of pots and pans sounded throughout Montreal's downtown core Saturday night and into early Sunday morning, as thousands of protesters marched on in peaceful — but loud — defiance of Bill 78. more »
- Syrian children massacred by the dozens, UN says
- More than 90 people have been killed by regime forces in a district of central Syria, with the head of the UN team in the country confirming at least 32 children and 60 adults were killed in an artillery attack. more »
- Missing Winnipeg children found in Mexico
- Two Winnipeg children reported missing and possibly in Mexico have been found alive, according to unofficial reports from an agency that works to find missing people. more »
- Teen struck by lightning in Ottawa dies
- Missing Winnipeg children found in Mexico
- Quebec tornadoes cause millions in damage
- Everest team unable to bring down Toronto woman's body
- Pope's butler arrested in Vatican leaks scandal
- Woman's remains found in hockey bag on Cape Breton river
- Syrian children massacred by the dozens, UN says
- WWE apologizes to Brazil over Canadian's flag stomp
- What a Greek euro exit could mean for Canada
