Rising energy and food prices caused by the Ukrainian crisis could exacerbate existing food security problems in the Middle East and Africa and fuel social unrest, said World Bank Chief Economist Carmen Reinhart.

On Friday, Germany will host a virtual meeting of G7 agriculture ministers to discuss the impact of the crisis amid growing concerns about stabilizing food markets.

There will be important ramifications for the Middle East, especially for Africa, North Africa and Sub-Saharan Africa, which are already facing food insecurity, Reinhart said in an interview with Reuters.

Sudden spikes in food prices can lead to social unrest, as happened in 2007-2008 and in 2011, when rising global food prices were linked to riots in more than 40 countries.

Agricultural commodities are already up 35% year-over-year in January and are expected to rise even more as Russia and Ukraine are major exporters of wheat, corn, barley and sunflower oil, the World Bank said.

Experts say rising energy and food prices could also push policymakers to increase subsidies, exacerbating the heavily indebtedness of many low-income countries, of which about 60 are either already in debt distress or close to it.

The World Bank warned last month that the impact could be particularly severe in the Middle East and North Africa, where countries like Egypt import up to 80% of their wheat from Ukraine and Russia. Mozambique is also a major importer of wheat and oil.

Reinhart said the countries of Central Asia also face significant economic challenges given their close economic and trade ties with Russia, which the International Monetary Fund predicts will face a recession this year as a result of Western sanctions.