New Delhi: Russia’s ongoing invasion of Ukraine represents the second-largest humanitarian crisis since the 1960s in terms of a number of people who have fled or been displaced, and fifth in terms of fraction of the population this represents, besides it could get worse as the UN estimates that 8.3 million Ukrainians could be refugees by the end of the year, global management consulting firm McKinsey & Company report said in a report.
The report mentions about 12 major sets of disruptions changing the world.
The invasion has displaced the most refugees in Europe since World War II because as of today, 5.6 million refugees have fled Ukraine, and another 7.7 million have left home and sought shelter elsewhere in the country.
“All told, the war has pushed nearly 30 percent of Ukrainians out of their homes.”
A well-organized, rapidly scaled international humanitarian aid program, such as the UN’s Regional Refugee Response Plan, will surely help, and in the longer term, realizing the benefits of immigration hinges on how well new arrivals are integrated into the country’s labor market and society, the report said.
In the next section of the report titled “The vulnerable will suffer the most”, McKinsey & Co said the war has sent prices soaring for the essentials, and what’s now at risk is the base of the Maslow hierarchy of needs — food, warmth, and shelter.
On food security, the report said the war in Ukraine has disrupted the global food production system.
Lastly, it said the war has increased economic volatility and introduced considerable volatility in the risks that business leaders see to economic growth.