Italian Prime Minister Mario Draghi said that “disruptions in global supply chains, especially in the field of grain, due to the war in Ukraine lead to the risk of a humanitarian catastrophe”, explaining that “according to the forecasts of the Organization for Economic Cooperation and Development. The war in Ukraine led to a significant deterioration in growth expectations and a sharp rise in inflation expectations.

In his speech during the OECD ministerial meeting held in Paris today, he pointed out that “central banks are beginning to face pressure on monetary policy, which has led to higher borrowing costs”, noting that “Failures in supply chains, in particular wheat, have driven up prices and increased the risk of a humanitarian catastrophe.

In his speech, Draghi added: “The G7 and the European Union have shown amazing unity in supporting Ukraine and putting pressure on Moscow to end hostilities and resume negotiations.”