Ethiopia: Ethiopia's Finance Minister Ahmed Shide has called for urgent, coordinated international action and emergency financing to buffer import-dependent economies against soaring fuel and fertilizer pressures, following the ongoing Iran crisis and major shipping disruptions. Speaking at the Global Partnerships Conference in London, the Minister warned that these escalating market strains threaten agricultural productivity and food security, demanding stronger global solidarity to protect vulnerable nations.
According to Ethiopian News Agency, the Minister said higher global oil prices were raising transportation, irrigation, mechanization, agro-processing, and food distribution costs while adding pressure on Ethiopia's trade balance. He also pointed out fertilizer shortages and delayed deliveries linked to supply disruptions, shipping delays, higher insurance costs, and uncertainty in global markets.
The Finance Minister highlighted that reduced fertilizer availability and higher cultivation costs could lower agricultural productivity, weaken rural livelihoods, and intensify food insecurity, particularly in countries already facing climate shocks, debt distress, inflationary pressures, and humanitarian challenges. The crisis risks undermining development gains in vulnerable economies.
The Finance Minister called for stronger international solidarity and coordinated action, and for development partners and international financial institutions to provide emergency financing for fuel and fertilizer imports, concessional support, and targeted assistance for smallholder farmers. He also emphasized the importance of long-term investments in regional supply chains, storage, logistics, and domestic resilience.