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Food Prices Are Soaring: 5 Questions for Economist José Cuesta

Karin Rives's picture
Surma river between Bangladesh and India
The Surma River that flows between Bangladesh and India. Photo Credit: Poonam Pillai

Being from Kolkata, I have always been used to floods. Prolonged flooding typically meant schools and offices closed, traffic jams and a much-needed respite from the tropical summer heat. However, it was during a field visit to the flood prone northeastern border of Bangladesh, where rivers from India flow downstream into Bangladesh, that I fully appreciated the importance of disaster early warning systems and regional collaboration in saving lives, property, enabling communities to evacuate and prepare for extreme weather events.

Disaster early warning systems, along with other information services based on weather, water and climate data (sometimes known as “hydromet” or “climate services”) play a key role in disaster preparedness and improving the productivity and performance of climate sensitive sectors such as agriculture.  Along with investments in resilient infrastructure, risk financing strategies and capacity building measures, they are a key part of a toolkit for strengthening disaster and climate resilience.  Research shows that for every dollar spent on disaster early warning systems, the benefits range from $2-10.  In South Asia, these are particularly important given the region’s extreme vulnerability to climate risks and staggering socio-economic costs arising from extreme weather events.

Prospects Weekly: Investors have returned to emerging markets equity and fixed-income mutual funds

Global Macroeconomics Team's picture

Remittances – money sent back home by emigres – amount to a larger financial flow than development aid. Since 2000, remittance inflows per capita to fragile states have been higher than those to other developing countries.

Read more in the OECD's States of Fragility 2015 and access data on migration and remittances and data on population and remittances from World Development Indicators. Note the aggregations and data used in the chart above are made available by the OECD at: http://dx.doi.org/10.1787/888933185242

Rising food prices and East Asia: trends and options

Milan Brahmbhatt's picture

Soaring food prices have suddenly become a major concern for policy makers in East Asia.  The price of rice - which provides one third of the region's caloric intake - is a particular worry.  Rice prices have been moving higher since around 2004, although this was from very depressed levels in the early years of the decade.  Prices surpassed $300 a ton in early 2006 for the first time since the late 1990s, kept moving higher, and then took off at an accelerating pace from late 2007:  up 11 percent in the the fourth quarter, then 56 percent in the first quarter of 2008 an