OECD vows to tackle challenges posed by Russia's invasion

Member nations of the Organization for Economic Co-operation and Development have expressed their determination to tackle the geopolitical challenges posed by Russia's invasion of Ukraine.

The 38-member OECD wrapped up a two-day ministerial meeting in Paris on Friday.

The ministers issued a statement outlining the effects of the invasion on the global economy and the challenges that lie ahead.

It points out that Russia's war has destroyed infrastructure and crops, and blocked exports of commodities, leading to inflation.

The statement also says global supply chains have been disrupted. It calls on the international community to refrain from imposing export restrictions on agricultural products amid a worsening global food crisis.

The OECD is calling for an urgent and coordinated response to the spread of extreme poverty and severe food insecurity in developing countries.