Economic Crisis Warning from the UN

The United Nations (UN) stated that we are on the verge of the most serious economic crisis ever seen and that no country can escape from this crisis.

Economic Crisis Alert from the UN. The United Nations (UN) has published a comprehensive report on the food, energy and economic effects of the war that started with Russia's attack on Ukrainian territory on February 24. The report warned that the war could cause the most serious economic crisis ever seen. It was stated in the report that the war affected 1.6 billion people in a total of 94 countries, and that rising food and oil prices pose a risk. Commenting on the report, UN Secretary-General Antonio Guterres said, “The impact of war on food security, energy and finance is systematic, severe and accelerating. The war brings unprecedented hunger and poverty, social and economic chaos.” Emphasizing that no country can escape the effects of this war, Guterres stated that 47 million more people may face food insecurity this year due to the war. Mentioning that Ukrainian grain and Russian fertilizers should be brought back to global markets in order to break the vicious circle of rising food and oil prices and to stabilize food and energy markets, Guterres repeated his call for safe and unhindered export of Ukrainian grain via the Black Sea. Rebeca Grynspan, the Secretary General of the United Nations Conference on Trade and Development (UNCTAD), made an assessment of the report. "We are facing the most serious cost of living ever. The current food crisis could quickly turn into a global food disaster in 2023."