Insight and opinion from The National’s editorial leadership
June 15, 2023
Belts have tightened across the world in recent months. Conflict, climate change and inflation-imbued economic downturns have many governments and households alike thinking twice about spending. But some belts cannot get any tighter, including those of international aid agencies like the World Food Programme, which feeds more than 160 million people around the world.
Last year, the UN agency – the largest humanitarian organisation in the world – raised a record $14 billion. But crises and inflation have become so bad that even an unprecedented funding drive no longer comes close to meeting the needs of its growing recipient pool.
To achieve its rather modest goal of feeding nearly 150 million out of the 345 million people confronting acute hunger this year, the WFP needs to raise $23bn. It is projected to muster less than half of that.
Cash-strapped and with more mouths to feed, the WFP has had to resort to either feeding fewer of them or feeding them less.
Three humanitarian crises, in particular – Syria, Afghanistan and the Rohingya refugee crisis in Bangladesh – illustrate the dire toll that a combination of donor distraction and donor fatigue can take on the world’s most vulnerable.
In February, for the first time since the start of the Rohingya crisis, the WFP was forced to reduce its assistance for the nearly one million refugees living in Cox’s Bazar, the world’s largest refugee camp. The cuts, spurred by a $125 million funding shortfall, came in the form of a reduction in the value of food vouchers, down from $12 to $10 per person per month. By the end of June, the figure is expected to be $8, and by September the agency says assistance may stop altogether.
Even an unprecedented funding drive no longer even comes close
In March, the WFP announced even deeper cuts to its food assistance programme in Afghanistan, where aid delivery is already complicated by a poor relationship between the international community and the Taliban.
WFP officials in Afghanistan first tried cutting ration sizes in half. Then they began cutting the number of distributions. Between March and May, distributions dropped from 13 million people to five million. This month, they were suspended entirely in several provinces, with the agency saying it needs around $800 million over the next six months to continue its operations.
Despite the scale of Afghanistan’s humanitarian crisis (nine out of 10 families are food-insecure), the UN Office for the Co-ordination of Humanitarian Affairs’ 2023 Afghanistan Humanitarian Response Plan, which calls for $4.6bn in aid, is less than 10 per cent funded.
Last year, the WFP had to cut the size of rations for Syrians from 1,350 calories to 1,177 calories – just over half of an adult’s recommended daily intake. This week, it said it will soon distribute food aid to 2.5 million people instead of the 5.6 it served previously.
The number of Syrians facing acute hunger is growing, having increased by more than half in the past four years. In the same period, the WFP’s cost of feeding people in the country has gone up by nearly a third. Even in government-held areas, record inflation made worse by the war in Ukraine has resulted in fewer people receiving subsidised food and fuel.
And the consequences have gone well beyond nutrition. Families have had to make difficult choices between paying for food, medicine, school or fuel. More children are being withdrawn from classes, and early marriage is on the rise, according to the UN.
Tough choices must be made when times are tough economically, and each decision inevitably has consequences. But for those reliant on food assistance – whether in Asia or in any of the 120 countries and territories the WFP serves – decisions made in wealthier capitals can be the difference between life and death.
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How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip:Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
Moment of the day Lahiru Gamage appeared to have been hard done by when he had his dismissal of Sami Aslam chalked off for a no-ball. Replays suggested he had not overstepped. No matter. Two balls later, the exact same combination – Gamage the bowler and Kusal Mendis at second slip – combined again to send Aslam back.
Stat of the day Haris Sohail took three wickets for one run in the only over he bowled, to end the Sri Lanka second innings in a hurry. That was as many as he had managed in total in his 10-year, 58-match first-class career to date. It was also the first time a bowler had taken three wickets having bowled just one over in an innings in Tests.
The verdict Just 119 more and with five wickets remaining seems like a perfectly attainable target for Pakistan. Factor in the fact the pitch is worn, is turning prodigiously, and that Sri Lanka’s seam bowlers have also been finding the strip to their liking, it is apparent the task is still a tough one. Still, though, thanks to Asad Shafiq and Sarfraz Ahmed, it is possible.
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
“The only thing we need is to know that we have faith. Faith and hope in our own dreams. The belief that, when we keep going we’re going to find our way. That’s all we got.”
“Sometimes we try so hard to keep things inside. We try so hard to pretend it’s not really bothering us. In some ways, that hurts us more. You don’t realise how dishonest you are with yourself sometimes, but I realised that if I spoke it, I could let it go.”
“One good thing is to know you’re not the only one going through it. You’re not the only one trying to find your way, trying to find yourself, trying to find amazing energy, trying to find a light. Show all of yourself. Show every nuance. All of your magic. All of your colours. Be true to that. You can be unafraid.”
“It’s time to stop holding back. It’s time to do it on your terms. It’s time to shine in the most unbelievable way. It’s time to let go of negativity and find your tribe, find those people that lift you up, because everybody else is just in your way.”
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
RESULTS
6pm: Al Maktoum Challenge Round-2 – Group 1 (PA) $55,000 (Dirt) 1,900m Winner: Rajeh, Antonio Fresu (jockey), Musabah Al Muhairi (trainer)
6.35pm: Oud Metha Stakes – Rated Conditions (TB) $60,000 (D) 1,200m Winner: Get Back Goldie, William Buick, Doug O’Neill
7.10pm: Jumeirah Classic – Listed (TB) $150,000 (Turf) 1,600m Winner: Sovereign Prince, James Doyle, Charlie Appleby
7.45pm: Firebreak Stakes – Group 3 (TB) $150,000 (D) 1,600m Winner: Hypothetical, Mickael Barzalona, Salem bin Ghadayer
8.20pm: Al Maktoum Challenge Round-2 – Group 2 (TB) $350,000 (D) 1,900m Winner: Hot Rod Charlie, William Buick, Doug O’Neill
8.55pm: Al Bastakiya Trial – Conditions (TB) $60,000 (D) 1,900m Winner: Withering, Adrie de Vries, Fawzi Nass
9.30pm: Balanchine – Group 2 (TB) $180,000 (T) 1,800m Winner: Creative Flair, William Buick, Charlie Appleby
Bert van Marwijk factfile
Born: May 19 1952 Place of birth: Deventer, Netherlands Playing position: Midfielder
Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia
Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands
2010: A restaurant attack in Kampala Uganda kills 74 people watching a Fifa World Cup final football match.
2013: The Westgate shopping mall attack, 62 civilians, five Kenyan soldiers and four gunmen are killed.
2014: A series of bombings and shootings across Kenya sees scores of civilians killed.
2015: Four gunmen attack Garissa University College in northeastern Kenya and take over 700 students hostage, killing those who identified as Christian; 148 die and 79 more are injured.
2016: An attack on a Kenyan military base in El Adde Somalia kills 180 soldiers.
2017: A suicide truck bombing outside the Safari Hotel in Mogadishu kills 587 people and destroys several city blocks, making it the deadliest attack by the group and the worst in Somalia’s history.