December 8, 2022

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G-20 Summit: PM Modi terms crisis of essential goods and lack of financial capacity of the poor a ‘double whammy’

Stressing that the challenges for the poor citizens of every country are more severe due to the Covid-19 pandemic and the developments in Ukraine, Prime Minister Narendra Modi Tuesday called the crisis of essential goods and lack of financial capacity of the poor a “double whammy”.

Addressing the session on “food and energy security” at the G-20 summit in Bali, Indonesia  

Tuesday, Modi said that the G-20 leaders have to find a way to return to the path of ceasefire and diplomacy in Ukraine.

“The current shortage of fertilizers in terms of food security is also a huge crisis. Today’s fertilizer shortage is tomorrow’s food crisis, for which the world will not have a solution,” said the PM while asking the world leaders to build a mutual agreement to maintain the supply chain of both manure and food grains stable.

PM Modi termed the current phase of climate change, the Covid pandemic, the developments in Ukraine, and the global problems associated with it as a “challenging global environment”. He said that all these together have caused havoc in the world and global supply chains are in ruins.

“There is a crisis of essential goods all over the world. The challenge for the poor citizens of every country is more severe. Everyday life was already a struggle for them. They do not have the financial capacity to deal with the double whammy. Due to the double whammy, they lack the financial capacity to handle it,” he told the world leaders.