Bangkok:The International Monetary Fund (IMF) has identified the food security crisis as a significant threat to global economies and societies, exacerbated by climate change and geopolitical conflicts. This situation affects production costs, food prices, and the cost of living in regions including Southeast Asia. The IMF stresses the need for sustainable solutions and protection for vulnerable populations.

According to Thai News Agency, during the 'Food Security in an Age of Shocks' panel discussion at the 2026 Annual Meeting of the Board of Governors of the International Monetary Fund and the World Bank Group, Rodrigo Valdés, Director of Fiscal Affairs at the IMF, highlighted the recent series of food price shocks caused by conflict, logistical disruptions, extreme weather, and volatile energy and fertilizer costs. These issues are undermining food production and access, with climate change, particularly phenomena like El Niño, droughts, and rising temperatures, further threatening agricultural yields globally.

Valdés warned of the ripple effects of volatile global food prices on individual countries. Extreme weather combined with rising energy and fertilizer costs can cause domestic food prices to escalate, especially in nations where food comprises a large portion of household expenses. This crisis also challenges government fiscal stability, necessitating increased budgetary support for citizens amid income constraints and debt burdens. He emphasized the importance of preparing social protection systems, including citizen databases and targeted support measures, to ensure rapid assistance.

Nigel Clarke, Deputy Managing Director of the IMF, emphasized that food insecurity is now a recurrent risk for the global economy, not merely a temporary crisis. Extreme weather and conflicts in the Middle East and Ukraine are disrupting markets for essential goods and services, adding to the pressure on countries with high debt burdens and limited fiscal capacity, particularly low-income and vulnerable nations.

Somalia's Finance Minister, Bihi Iman Egeh, shared that the nation faces multiple crises such as drought, floods, internal instability, and reduced development aid, exacerbated by conflicts in the Middle East. These issues have increased food and energy costs, severely impacting countries dependent on food imports.

Burkina Faso's Minister of Economy and Finance, Aboubakar Nacanabo, noted that food security involves economic, societal, financial, and security dimensions. The country faces challenges in addressing security concerns, climate impacts, and budgetary constraints, with a focus on supporting vulnerable communities.

The discussion underscored that the food security crisis impacts more than just directly affected countries, influencing global commodity prices, energy markets, and supply chains. Building resilience in food systems and maintaining economic stability are vital for addressing these challenges effectively.