World Bank Urges Immediate Resolution To Food Crisis In The Wake Of Violence

Washington, DC (Marketsblog) – According to several emerging reports, officials of the World Bank and finance ministers across the world are gathering to come up with a solution for surging global food prices that’s causing hunger and deadly violence in several countries.

Robert Zoellick, the president of the World Bank, urged leaders to take emergency action to get a grip on the crisis.

An AP report quoted Zoellick as saying, nations have "to put our money where our mouth is" (and act now to help hungry people). "It is as stark as that."

With oil above $100 a barrel and commodity prices soaring at horrnedous levels, food prices have surged approximately 83 percent, just in the last three years. That statistic comes fromt the World Bank itself.

Countries like Egypt, Cameroon, Ivory Coast, Senegal, and Ethiopia are going through a period of rioting over the issue. As the meeting in Washington was taking place, the Prime Minister of Haiti Jacques Alexis announced his resignation due to rioting in Haiti’s capital over unreasonable prices of staple foods like rice and beans.

Zoellick added in his speech that 33 countries are at risk of social upheaval due to the food crisis. Some of those countries could include Indonesia, Yemen, Ghana, Uzbekestan and the Philippines.