White House releases US$200mn in food aid after printing money to create commodity bubble

WASHINGTON, April 14, 2008 (AFP) – The White House on Monday authorized the release of 200 million dollars in emergency food aid to help alleviate a growing global food crisis, a spokeswoman said.

“With this action, an estimated 200 million in emergency food aid will be made available through the US Agency for International Development,” press secretary Dana Perino said in a statement.

“This additional food aid will address the impact of rising commodity prices on US emergency food aid programs, and be used to meet unanticipated food aid needs in Africa and elsewhere.”

Asked about the possibility of other US measures, Perino responded: “We are continuing to assess the need. This 200 million dollars will address the emergency, and if more is needed we will strongly consider it.”

The World Bank on Sunday said a doubling of food prices over the past three years could push 100 million people in developing countries further into poverty. It urged developed nations to step up and tackle the issue.

Perino said earlier that President George W. Bush was “very concerned … (and) has raised the issue with his national security advisors, and he has asked State (Department) and USAID t