Business · 2 hours ago
UN Warns Developing Nations Face Triple Shock
Photo: European Commission (CC BY 4.0)
The UN Development Programme warned developing countries face a triple shock from energy prices, El Niño and surging borrowing costs. Administrator Alexander De Croo said oil above 100 dollars a barrel and bond yields near nine percent could push tens of millions into poverty. Its report urges cheaper finance ahead of Bangkok IMF meetings. Debt Justice said education budgets in distressed countries have already fallen.
Reported by The Guardian · How we write briefs