WTO head wants World Bank, IMF to refocus on food supply

0 Comments | AFP, April, 2008

LONDON (AFP) — The head of the World Trade Organisation, Pascal Lamy, called on the World Bank and International Monetary Fund to take action to help tackle rising food prices in an interview Saturday.

The surging price of basic foods like rice, wheat and corn in some of the world's poorest countries has triggered riots in Haiti and demonstrations in some African countries.

Factors contributing to the rise include the increasing demand for biofuels, since certain crops are used to make them, and the rising cost of oil and transportation.

"Medium and long-term, developed countries can use their power in places like the World Bank, the IMF...to make sure that these big donors refocus part of the aid they give to developing countries to improving supply in...