GLOBALink | Russia-Ukraine conflict wreaks havoc on African economies: expert

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GLOBALink | Russia-Ukraine conflict wreaks havoc on African economies: expert

The Russia-Ukraine conflict has rocked several countries in Africa, particularly net importers of commodities, a senior economist has said. Tewodros Mekonnen, an economist at the International Growth Center, told Xinhua that as the conflict drags on, African countries with trade ties with Russia and Ukraine face wheat and fertilizer supply shortages. "Many African countries use nitrogen-based fertilizer for their food production, and they import about 70 percent of the product from Ukraine and Russia," said Mekonnen. "So with the supply side being affected, they are facing increased import bills." If some compromise by reducing fertilizer imports, food production would shrink and food prices would rise higher, the economist warned. Data from the United Nations Food and Agriculture Organization showed that the Food Price Index averaged 159.3 points in March, up 12.6 percent from February, when it had already reached its highest level since its inception in 1990. According to Mekonnen, countr

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