EMs, food security and inflation

Shortages of food supplies and surging prices have led some EMs to impose export restrictions on key agricultural products, a trend that threatens to become more prevalent and serve to keep prices elevated and inflation high. Some EMs are also attempting to cushion the impact of higher food prices on household spending by ramping up subsidies. But that will entail significant fiscal costs which in some places isn’t sustainable, notably North Africa. World with Higher Rates - Drop-In (21^st June, 10:00 ET/15:00 BST): Does monetary policy tightening automatically mean recession? Are EMs vulnerable? How will financial market returns be affected? Join our special 20-minute briefing to find out what higher rates mean for macro and markets. Register now