IMF: Black Sea deal's end to make grain "gold"

Maria Novoselova / Vestnik Kavkaza

The grain deal's liquidation will lead to a sharp rise in grain prices. According to the IMF forecast, grain prices may rise by 10-15%.

The fund noted that the deal provided for the export of about 33 million tons of Ukrainian grain.

"It helped to keep the pressure on food and grain prices lower",

the IMF Chief Economist Pierre-Olivier Gurinsha said at the press conference.

In this regard, he noted that after the deal "went down in history", the reverse mechanism would work. It is natural that food prices will rise.

Earlier, Russian leader Vladimir Putin said that the Russian side was ready to replace the grain supplied by Ukraine either free of charge or on a commercial basis.

© Photo :Maria Novoselova / Vestnik Kavkaza