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December 03, 2008
Economic Slump Threatens to Deepen Food Crisis
Money for food aid, as well as credit for farmers around the world, could be more difficult to get because of the ongoing global financial crisis, reports The Christian Science Monitor.
If farmers run out of credit, they will be unable to grow new crops, which will shrink the food supply further. Also, of the $12.3-billion pledged by governments and donors earlier this year for food aid, only $1-billion has been distributed, the paper reports.
And though fuel and food prices have dropped recently (food prices have fallen by 6 percent since September), the decreases have not offset earlier price jumps, such as the 51 percent spike in food prices in 2008, the Monitor reports.
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