Developing nations face triple shock from energy crisis, El Niño and borrowing costs, UN warns

Developing nations face triple shock from energy crisis, El Niño and borrowing costs, UN warns

UN’s development arm calls for urgent action as crises could ‘throw tens if not hundreds of millions back into poverty’ Developing countries face a triple shock from the energy crisis, El Niño and surging borrowing costs and need urgent support from the international community, the UN’s development arm has warned. Speaking before the International Monetary Fund (IMF) and World Bank annual meetings in Bangkok this week, the UNDP’s administrator, Alexander De Croo, called for “solidarity and global action”. Continue reading...