"Beg India To Reconsider Wheat Export Ban As Soon As Possible": IMF Chief

India Bans Wheat Export earlier this month!

On Tuesday, International Monetary Fund (IMF) chief Kristalina Georgieva implored India to reconsider its ban on wheat exports, saying the country could play a key role in international food security and global stability.

India banned wheat exports earlier this month as an intense heatwave hit output and domestic prices hit a record high.

According to the statement given by her, she told NDTV at the World Economic Forum in Davos, Switzerland, "I do have an appreciation for the fact that India needs to feed nearly 1.35 billion people and I do have an appreciation for the heatwave that has reduced agricultural productivity, but I would beg India to reconsider as soon as possible because the more countries step into export restrictions, the more others would be tempted to do so and we would end up as a global community less equipped to deal with the crisis."

Ms. Georgieva said, "Wheat is one of the areas where Ukraine and Russia have been dramatically impacted by the war so depending on how much India can export and where it directs its exports, it could have a significant impact, especially if exports go to the country’s most severely impacted like Egypt or Lebanon where what we see is not only risk of hunger but the risk of social unrest and impact on global stability."

On Tuesday, the agriculture ministry said, the world's second-biggest wheat producer is likely to harvest 106.41 million tonnes in 2022, nearly 4.4 percent lower than the previous estimate, said the ministry.

The export ban was a huge U-turn after the government announced it was targeting record shipments this year.