When U.S. Treasury Secretary Janet Yellen meets with world leaders this week, a major topic will be how to shepherd the world through food crises created by Russia’s war on Ukraine.
Yellen is scheduled to meet in Washington D.C. with leaders of the International Monetary Fund, World Bank, Group of Seven and Group of 20 largest economies. She will also meet with Denys Shmyhal, Ukraine’s prime minister.
Global food insecurity is expected to be one of the biggest agenda items. The war has exacerbated inflation among fertilizer and food commodities. Russia and Ukraine, between them, produce some 30% of the world’s wheat and barley; Russia and its ally Belarus also export about 20% of its fertilizers.
Yellen and the other world leaders will discuss how to alleviate the war’s effects, especially on the nations that are dependent on Ukraine and Russia for a major part of their grain supplies.