Ucraina: S&P, risk of instability grows for North Africa

Analyst, rising food prices led to five uprisings since 1977

30 May, 17:49

    (ANSAmed) - CAIRO, MAY 30 - North Africa is dealing with the growing danger of social instability and governments are trying to protect their populations from the increase in food prices caused by the war in Ukraine, said Tatiana Lysenko, economist head of emergent markets Emea at S&P Global Ratings in Paris, in statements to the website The Africa Report. "The increase in food prices can be a catalyst" for disorders, said the analyst.

    Regardless of the duration of the war in Ukraine, food inflation risks for 2023 are increasing due to the lack of fertilizers and the interruption of the planting season in Ukraine, added Lysenko.

    Political and social instability in the region, as observed by a new research by S&P, has been historically linked to the rise in food prices. Examples include uprisings for bread in Egypt and Morocco in 1977 and 1984, protests in 1989 in Jordan and uprisings across the region in 2008. The Arab Spring in 2011 also coincided with strong food price hikes, wrote the website, summing up Lysenko's observations.(ANSAmed).

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