Developing nations face triple shock from energy crisis, El Niño and borrowing costs, UN warns - The Guardian
Developing nations face triple shock from energy crisis, El Niño and borrowing costs, UN warns - The Guardian
Source: The Guardian
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DW NOTE
The UN is warning about a "triple shock" while the Strait of Hormuz has been closed for 224 days, oil is at $104, and US benchmark rates sit at 4%. Developing nations aren't facing three risks — they're already living through what happens when energy supply collapses, weather patterns shift, and rich-country central banks defend their currencies by making dollar debt more expensive to service.