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1. Food for Thought – Talking Points on Food Prices

Author:
Nendirmwa Noel and Sarah Cliffe
Publication Date:
04-2020
Content Type:
Working Paper
Institution:
Center on International Cooperation
Abstract:
This short memo summarizes issues linking the COVID-19 pandemic and food prices. There is a real risk of a food price crisis emerging as a result of the pandemic, for the following reasons: Food systems are facing a complex set of demand and supply shocks during the COVID-19 pandemic. This includes increased demand due to hoarding versus decreased demand due to containment measures; lower prices for food system inputs, such as petroleum, versus decreased supply due to disruption of production, transport and trade. There seems to be a risk that rice, and possibly wheat, see a price surge which disconnects them from the downward trend in other basic commodities. There is also undoubtedly a risk that specific countries and large urban settlements see sharp increases in prices of scarce commodities, as protests in Afghanistan and in Nigeria have already shown this week. The crisis is coming just as farmers in many parts of the world are about to begin planting, and action is therefore needed now.
Topic:
Governance, Food Security, Multilateralism, Crisis Management, and COVID-19
Political Geography:
Global Focus

2. COVID-19 and the IMF-World Bank Spring Meetings

Author:
Sarah Cliffe
Publication Date:
04-2020
Content Type:
Policy Brief
Institution:
Center on International Cooperation
Abstract:
The International Monetary Fund (IMF) and World Bank conducted their first virtual Spring Meetings amid the COVID-19 pandemic. This briefing summarizes the discussions, which focused on the economic impact of the pandemic, and provides key takeaways on topics such as debt relief, financing for COVID-19 response, multilateral partnerships, and efforts to support global supply chains. In this readout of the 2020 Spring Meetings, CIC director Sarah Cliffe details the historic—but ring-fenced—debt moratorium and accelerated financing deal that were reached, as well as efforts to inject more global financing through an exceptional issue of IMF Special Drawing Rights. The briefing also covers partnerships between the United Nations and the international financial institutions, including a call for collaboration on global supply chains for medical equipment, agricultural inputs, and other goods and services.
Topic:
Governance, Finance, Multilateralism, Crisis Management, Humanitarian Crisis, IMF, COVID-19, and Supply
Political Geography:
Global Focus