Hunger is Rising, COVID-19 Will Make it Worse

The economic crisis and food system disruptions from the Covid-19 pandemic will worsen the lack of nutrition in women and children, with the potential to cost the world almost $30 billion in future productivity losses. As many as 3 billion people may be unable to afford a healthy diet due to the pandemic, according to a study published in Nature Food journal. This will exacerbate maternal and child under-nutrition in low- and middle-income countries, causing stunting, wasting, mortality and maternal anemia.

Nearly 690 million people were undernourished in 2019, up by almost 60 million since 2014. Nearly half of all deaths in children under age five are attributable to undernutrition and, regrettably, stunting and wasting still have strong impacts worldwide.

In 2019, 21 per cent of all children under age five (144 million) were stunted and 49.5 million children experienced wasting.The effects of the pandemic will increase child hunger, and an additional 6.7 million children are predicted to be wasted by the end of 2020 due to the pandemic’s impact.

The situation continues to be most alarming in Africa: 19 per cent of its population is under-nourished (more than 250 million people), with the highest prevalence of undernourishment among all global regions. Africa is the only region where the number of stunted children has risen since 2000.

Women and girls represent more than 70 per cent of people facing chronic hunger. They are more likely to reduce their meal intake in times of food scarcity and may be pushed to engage in negative coping mechanisms, such as transactional sex and child, early and forced marriage.

Extreme climatic events drove almost 34 million people into food crisis in 25 countries in 2019, 77 per cent of them in Africa. The number of people pushed into food crisis by economic shocks more than doubled to 24 million in eight countries in 2019 (compared to 10 million people in six countries the previous year).

Food insecurity is set to get much worse unless unsustainable global food systems are addressed. Soils around the world are heading for exhaustion and depletion. An estimated 33 per cent of global soils are already degraded, endangering food production and the provision of vital ecosystem services.

Evidence from food security assessments and analysis shows that COVID-19 has had a compounding effect on pre-existing vulnerabilities and stressors in countries with pre-existing food crises. In Sudan, an estimated 9.6 million people (21 per cent of the population) were experiencing crisis or worse levels of food insecurity (IPC/CH Phase 3 or above) in the third quarter of 2020 and needed urgent action. This is the highest figure ever recorded for Sudan.

Food security needs are set to increase dramatically in 2021 as the pandemic and global response measures seriously affect food systems worldwide. Entire food supply chains have been disrupted, and the cost of a basic food basket increased by more than 10 per cent in 20 countries in the second quarter of 2020.

Delays in the farming season due to disruptions in supply chains and restrictions on labour movement are resulting in below-average harvests across many countries and regions.  This is magnified by pre-existing or seasonal threats and vulnerabilities, such as conflict and violence, looming hurricane and monsoon seasons, and locust infestations. Further climatic changes are expected from La Niña.

Forecasters predict a 55 per cent change in climate conditions through the first quarter of 2021, impacting sea temperatures, rainfall patterns and hurricane activity. The ensuing floods and droughts that could result from La Niña will affect farming seasons worldwide, potentially decreasing crop yields and increasing food insecurity levels.

The devastating impact of COVID-19 is still playing out in terms of rising unemployment, shattered livelihoods and increasing hunger. Families are finding it harder to put healthy food on a plate, child malnutrition is threatening millions. The risk of famine is real in places like Burkina Faso, north-eastern Nigeria, South Sudan and Yemen.

COVID-19 has ushered hunger into the lives of more urban communities while placing the vulnerable, such as IDPs, refugees, migrants, older persons, women and girls, people caught in conflict, and those living at the sharp end of climate change at higher risk of starvation. The pandemic hit at a time when the number of acutely food-insecure people in the world had already risen since 2014, largely due to conflict, climate change and economic shocks.

Acute food-insecurity is projected to increase by more than 80 percent – from 149 million pre-COVID-19, to 270 million by the end of 2020 – in 79 of the countries where WFP works. The number of people in crisis or worse (IPC/CH Phase 3 or above) almost tripled in Burkina Faso compared to the 2019 peak of the food insecurity situation, with 11,000 people facing catastrophic hunger (IPC/CH Phase 5) in mid-2020.

For populations in IPC3 and above, urgent and sustained humanitarian assistance is required to prevent a deterioration in the hunger situation. It is alarming that in 2020, insufficient funds left food security partners unable to deliver the assistance required. For example, sustained food ration reductions in Yemen have directly contributed to reduced food consumption since March. Today, Yemen is one of four countries at real risk of famine.

Source: https://gho.unocha.org/

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Critics:

During the COVID-19 pandemic, food security has been a global concern – in the second quarter of 2020 there were multiple warnings of famine later in the year. According to early predictions, hundreds of thousands of people would likely die and millions more experience hunger without concerted efforts to address issues of food security.

As of October 2020, these efforts were reducing the risk of widespread starvation due to the COVID-19 pandemic. Famines were feared as a result of the COVID-19 recession and some of the measures taken to prevent the spread of COVID-19. Additionally, the 2019–2021 locust infestation, ongoing wars and political turmoil in some nations were also viewed as local causes of hunger.

In September 2020, David Beasley, Executive Director of the World Food Programme, addressed the United Nations Security Council, stating that measures taken by donor countries over the course of the preceding five months, including the provision of $17 trillion in fiscal stimulus and central bank support, the suspension of debt repayments instituted by the IMF and G20 countries for the benefit of poorer countries, and donor support for WFP programmes, had averted impending famine, helping 270 million people at risk of starvation.

References:

 

Tanzania Considers Crypto and Boosts Bitcoin as Nations Line Up Behind El Salvador To Embrace Decentralized Finance

Bitcoin

Tanzania became the latest country to signal its support for digital assets this weekend as its president instructed financial authorities to prepare for widespread use of cryptocurrencies, elevating bitcoin prices further after El Salvador became the first country to make bitcoin legal tender last week and Elon Musk outlined plans for Tesla to resume accepting bitcoin as a form of payment.

Key Facts

President Samia Suluhu Hassan called on the Tanzanian Central Bank Sunday to begin “working on” facilitating widespread use of cryptocurrencies in the East African nation.  While many in Tanzania have not yet embraced decentralized finance, Hassan said the Central Bank should “be ready for the changes and not be caught unprepared.

”Hassan is one of the most senior politicians to signal support for digital assets since El Salvador voted to adopt bitcoin as legal tender last week and helped give the flagging market a boost. The announcement helped bitcoin gain nearly 10% in 24 hours, nearly reaching $40,000 a token Monday morning.

The token was also buoyed on by news that Tesla would resume its use of bitcoin when there is proof the asset is obtained using around 50% clean energy.

What To Watch For

There is growing popular support for bitcoin adoption in Nigeria that also gained momentum over the weekend. Russell Okung, an NFL player of Nigerian descent, penned an open letter to the Nigerian president imploring the country to adopt a Bitcoin standard so as to avoid “falling behind.” Twitter and Square CEO Jack Dorsey, one of the most high profile crypto enthusiasts, tweeted his support of the idea a number of times over the weekend.

Key Background

While reaching its highest point in several weeks, bitcoin, along with the wider crypto market, is still recovering from a tailspin that rapidly wiped over $700 billion from the market’s value. This slump was primarily induced by Tesla announcing it would no longer accept bitcoin due to environmental concerns and China cracking down on the assets.

Support from the likes of El Salvador, alongside other countries and banks that may begin to adopt bitcoin, or other cryptocurrency tokens, the market has slowly started to recover, though remains volatile. Beyond Tanzania, lawmakers in a number of Latin American countries have expressed at least a casual interest in following El Salvador’s footsteps, including Brazil and Panama.

Further Reading

El Salvador Makes History As World’s First Country To Make Bitcoin Legal Tender (Forbes)

Tanzanian president urges central bank to prepare for crypto (Coin Telegraph)

I am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a freelance journalist and policy analyst covering science, tech and health. I have a master’s degree in Biological Natural Sciences and a master’s degree in the History and Philosophy of Science from the University of Cambridge. Follow me on Twitter @theroberthart or email me at rhart@forbes.com

Source: Tanzania Considers Crypto—And Boosts Bitcoin—As Nations Line Up Behind El Salvador To Embrace Decentralized Finance

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Critics:

The European Union has passed no specific legislation relative to the status of bitcoin as a currency, but has stated that VAT/GST is not applicable to the conversion between traditional (fiat) currency and bitcoin. VAT/GST and other taxes (such as income tax) still apply to transactions made using bitcoins for goods and services. 

In October 2015, the Court of Justice of the European Union ruled that “The exchange of traditional currencies for units of the ‘bitcoin’ virtual currency is exempt from VAT” and that “Member States must exempt, inter alia, transactions relating to ‘currency, bank notes and coins used as legal tender‘”, making bitcoin a currency as opposed to being a commodity. According to judges, the tax should not be charged because bitcoins should be treated as a means of payment.

According to the European Central Bank, traditional financial sector regulation is not applicable to bitcoin because it does not involve traditional financial actors. Others in the EU have stated, however, that existing rules can be extended to include bitcoin and bitcoin companies.

The European Central Bank classifies bitcoin as a convertible decentralized virtual currency. In July 2014 the European Banking Authority advised European banks not to deal in virtual currencies such as bitcoin until a regulatory regime was in place.

In 2016 the European Parliament’s proposal to set up a task force to monitor virtual currencies to combat money laundering and terrorism, passed by 542 votes to 51, with 11 abstentions, has been sent to the European Commission for consideration.

See also

References

Nigeria: Crypto Experts Call for Regulations to Help the Industry Grow

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Cryptocurrency experts in Nigeria have recently called for “urgent regulations” on cryptocurrencies so the sector can gain the public’s trust, and become beneficial for the country’s economy. Luno, a South-African based crypto startup that operates in 40 other countries, announced that regulations will strengthen cryptocurrency-related operations in the country. At an event called Luno Meet in Lagos, country manager Owenzie Odia argued regulations will help cryptos’ popularity surge. Speaking on the theme “Building Trust in Nigeria’s cryptocurrency Market,” Odia noted the sector has various risks, which include volatility and bitcoin’s fame as a currency used for illicit purposes on the dark web, but added his platform has been growing at a steady pace. Read more….

 

 

 

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Chinese University Introduces New Treatment for Malaria in Nigeria — Diamond Celebrities

In order to tackle the dangers posed by malaria in Nigeria, medical experts from Jiangxi University of Traditional Chinese Medicine China has introduced a new method for the treatment of the disease in the country. At an event held in Lagos, attended by heads of government agencies, experts from China said that the new treatment […]

via Chinese university introduces new treatment for malaria in Nigeria — Diamond Celebrities

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