IMF welcomes India’s decision to relax ban on wheat exports

IMF welcomes India’s decision to relax ban on wheat exports
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Washington, June 10: The International Monetary Fund has said that it is concerned by the use of food and fertilizer export restrictions by some nations which can exacerbate global price increases and market volatility and welcomed India’s recent decision to relax its originally announced ban on wheat exports and allow some shipments to proceed.

A senior International Monetary Fund official observed that some 30 countries have curtailed exports of commodity goods including food and fuel since the war in Ukraine began.

“We are very concerned by the use of food and fertilizer export restrictions, which can exacerbate global price increases and market volatility. So, this goes beyond India,” IMF spokesperson Gerry Rice told reporters at a news conference here on Thursday.

“Our monitoring indicates that some 30 countries, in fact, have curtailed exports of commodity goods, including food and fuel, and that since the war in Ukraine began. So, we are very concerned about this. (IMF Managing Director) KristalinaGeorgieva has been very vocal on this. (First Deputy Managing Director) Gita Gopinath spoke about it again, yesterday,” he said responding to a question on India.

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