Increase in Food, Oil Prices Driving 100 Million People Into Poverty

The current food and oil price increases tabled for discussion at the African Union summit in Egypt is driving 100 million poor people into deeper poverty, the United Nations said on Monday.

The majority of these people living in poverty are said to be Africans who are highly affected by the current food and oil price increases.

The oil price is approaching $150 per barrel, which is expected to make the current economic crisis in the developing countries, including Africa worse.

“As we speak the food crisis-compounded by the hike in fuel prices and climate change-threatens to push an estimated 100 million people deeper into poverty and will have direct bearing on our efforts to meet the Millennium Development Goals,” said Dr. Asha-Rose Migiro, Deputy Secretary General of the UN.

She told the gathering that the challenge Africa is facing at this time demands a collective and integrated response, which is also on the agenda of the summit, to be discussed Monday and Tuesday in Sharm el-Sheikh.

“We cannot afford to let the ties that blind us together fray any more. We must act together and act quickly,” Said Asha-Rose.

She however said that donors are not yet on track to meet their commitment to support Africa in its partnership, referring to the pledges made three years ago at the G8 summit when it pledged $25 billion per year to Africa.

“Support to Africa’s development is not just a moral imperative-it is also critical to global security,” she added.

The next week’s G8 leaders gathering in Japan is expected to raise this issue in depth.

Source African Press Agency

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