Speeches Shim
Last updated: May 19, 2022

The economic fallout of Russia’s war on Ukraine is reverberating across the world, affecting global and national markets, trade, inflation, and food security. Although Libya is more than 2,700 kilometers (1,700 miles) away, everyday Libyans are feeling the impacts. To better understand how events in Russia and Ukraine are affecting Libya’s economy, USAID’s Libya Public Financial Management (LPFM) activity is conducting monthly analyses on the price of key commodities like grain imports and oil (the country’s largest export).
On May 18, Deputy Administrator Isobel Coleman attended the G7 Development Ministerial in Berlin, hosted by German Minister for Economic Cooperation and Development Svenja Schulze, and with the participation of development leaders from G7 countries and invited guests. Throughout the Ministerial, Deputy Administrator Coleman and other participants discussed collective approaches to mitigating the global food security crisis exacerbated by Russia’s war in Ukraine, high-quality standards for infrastructure investments, climate change and a socially just energy transition, and gender equity and equality in development assistance.
Today, Administrator Samantha Power met with Svein Tore Holsether, President and Chief Executive Officer of global fertilizer company Yara International, to discuss Russia’s invasion of Ukraine and its adverse impacts on the global fertilizer supply, crop production, and the livelihoods of millions of people who depend on agriculture. Administrator Power discussed ways in which USAID, through the U.S. government’s Feed the Future initiative, is addressing impacts on global hunger, poverty, and malnutrition.
On May 18, 2022, Deputy Administrator Isobel Coleman will travel to Berlin, Germany, to attend the G7 Development Ministerial Meeting.
Today, Administrator Samantha Power spoke with food security experts from leading think tanks and academic institutions to discuss the impact of Russia’s invasion of Ukraine on food security and nutrition and the U.S. government’s response efforts to the global food crisis.
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