The New Nation - Internet Edition

THE head of the International Monetary Fund (IMF) Dominique Strauss-Kahn, while addressing a meeting of the IMF's steering committee of finance ministers from 24 countries the other day, warned of dire consequences from continud food price rises. He expressed the fear that if food prices continued to rise hundreds of thousands of people would face starvation. Children would be suffering from malnutrition, which would leave adverse effect on their health all over their lives.

The IMF chief raised caution that continued food crisis would increase social tension that might even lead to food riots. He made mention of the food riots in Haiti, the Philippines and Egypt. At the same time the IMF chief warned against one-sidedness of seeing the food crisis only as a humanitarian question. It is also a world economic question. He said that the problem of food crisis could lead to trade imbalance which might eventually affect the developed nations as well.

Increased demand for food, crop failure in some countries due to bad weather and increased use of land to grow crops for bio-fuel for transports gave rise to the price hike in recent months. The poor in the deficit countries are the worst sufferers. The IMF called for strong action to deal with the problem. Bangladesh is a food deficit country. Food crisis here aggravated due to consecutive natural calamities and consequential crop failures. Food prices have crossed affordable limit for the poor and fixed income group people. All stakeholders opine that Bangladesh must strive for self-sufficiency in food production and at the same time, build a secure buffer stock of foodgrains. The Boro harvest may provide a respite. Food problem calls for lasting solution.