COVID-19 global economic recession: Avoiding hunger must be at the centre of the economic stimulus

FAO

COVID-19 global economic recession: Avoiding hunger must be at the centre of the economic stimulus

Copyright licence

Year of publication 2020

Place of publication Rome, Italy ;

Pages 10p.

Author FAO

Publisher FAO ;

Product type Brochure, flyer, fact-sheet

Category Brochure

ISBN 978-92-5-132513-1

Edition 1

Full item page

To cite or share https://doi.org/10.4060/ca8800en

Synopsis (short abstract) The International Monetary Fund (IMF) forecast in January that the global economy would grow by 3.3 percent in 2020, however its latest outlook, in April, now forecasts a contraction of 3.0 percent, with no upside scenarios and numerous risks. The scenario presented in this brief predicts that if the anticipated global recession, due to the effects of COVID-19, were to trigger a reduction in the growth rate of gross domestic product (GDP) of between two and ten percentage points in all countries in 2020, then the number of undernourished people in net food-importing countries would increase by 14.4 million to 80.3 million, with the majority of the increase coming from low-income countries. Economic stimulus in all countries must be focused on keeping the food supply chains functioning, while also protecting access to locally-, regionally- and globally-produced food. Stimulus measures that tackle the current menace to food access should emphasize efforts to build resilience into food systems to safeguard them against future economic slowdowns and downturns.

See the full list of policy briefs related to COVID-19.

Cite this content as:

FAO. 2020. COVID-19 global economic recession: Avoiding hunger must be at the centre of the economic stimulus. Rome.

https://doi.org/10.4060/ca8800en

Language English

Also available in:

Related items

Showing items related by metadata.

Booklet

High-profile

COVID-19: Channels of transmission to food and agriculture 2020

Also available in:

No results found.

FAO is analysing and providing updates on the emerging COVID-19 pandemic’s effects on agricultural markets—effects that are still largely unknown. Most current assessments generally foresee a contraction in both supply of and demand for agricultural products, and point to possible disruptions in trade and logistics. On the supply side, widely different views remain on the duration of the shocks, the price dynamics, differential impacts between domestic and international markets, differences across countries and commodities, the likely paths of recovery, and the policy actions to remedy the various shock waves. On the demand side, there is near ubiquitous agreement that agricultural demand and trade would slow-down, with contractions stemming from a deceleration in overall economic activity (GDP growth) and rising rates of unemployment. While food and agricultural systems are exposed to both demand and supply side shocks (symmetric), these shocks are not expected to take place in parallel (asynchronous) since, inter alia, consumers can draw on savings, food stocks and safety nets.
Brochure, flyer, fact-sheet

Brochure
Récession économique mondiale liée à la covid-19: la lutte contre la faim doit être au centre de la relance économique 2020

Also available in:

Arabic
Chinese
English
Russian
Spanish

En janvier dernier, le Fonds monétaire international (FMI) prévoyait une croissance de 3,3 pour cent de l’économie mondiale en 2020, mais dans ses dernières perspectives publiées en avril dernier, il annonce à présent une récession de 3 pour cent, sans scénarios de reprise et avec de nombreux risques. Les scénarios décrits dans la présente note de synthèse prévoient que, si la récession mondiale provoquée par l’épidémie de covid 19 devait entraîner une réduction du taux de croissance du produit intérieur brut (PIB) comprise entre deux et dix pour cent dans tous les pays en 2020, l’augmentation du nombre de personnes sous-alimentées dans les pays importateurs nets de produits alimentaires se situerait entre 14,4 et 80,3 millions, principalement dans les pays à faible revenu. Dans tous les pays, la relance économique doit avoir pour principal objectif de permettre aux chaînes d’approvisionnement alimentaire de continuer à fonctionner, tout en protégeant l’accès aux aliments produits aux niveaux local, régional et mondial. Les mesures de relance qui visent à lutter contre les menaces pesant sur l’accès aux aliments doivent mettre l’accent sur les initiatives de renforcement de la résilience des systèmes alimentaires afin de les prémunir contre les ralentissements et les fléchissements économiques.
Journal, magazine, bulletin

High-profile
Food systems and COVID-19 in Latin America and the Caribbean
Impacts and opportunities in fresh food production
2020

Also available in:

Spanish

The agrifood sector, has not been immune to the Coronavirus, whose string of effects has interrupted the normal operation of food chains. In the agrifood sector, unprecedented problems have led to unprecedented challenges. In Latin America and the Caribbean, food production has not stopped; the workers, although with difficulties, appear at their workplaces. Therefore, when we evaluate in detail the impacts of COVID-19 on primary production, it seems evident that these have not been critical. However, we cannot lose sight of the coming agricultural seasons and monitor, with even more zeal, the disruptions in those sectors most vulnerable to this health, economic and social crisis. We have been foolish and stressed every time we have been able to do it that this crisis is a magnificent opportunity to rethink our production models. Due to their importance, the agrifood systems are an obligatory starting point of the long process of recovery and transformation that lies ahead.