{
  "id": 13635754,
  "title": "Developing nations face triple shock from energy crisis, El Niño and borrowing costs, UN warns",
  "url": "https://urgent.news/2026/10/11/developing-nations-face-triple-shock-from-energy-crisis-el-nino-and",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-11T04:00:15.000Z",
  "source": {
    "name": "Guardian Business",
    "slug": "guardian-business",
    "url": "https://www.theguardian.com/business/2026/oct/11/developing-nations-triple-shock-energy-crisis-el-nino-borrowing-costs-un-warns"
  },
  "original_language": "en",
  "account": "The United Nations Development Programme (UNDP) has warned that developing nations are facing a \"triple shock\" from the energy crisis, El Niño, and surging borrowing costs, which could push tens to hundreds of millions of people back into poverty. Speaking ahead of the International Monetary Fund (IMF) and World Bank annual meetings in Bangkok, UNDP administrator Alexander De Croo called for \"solidarity and global action\" to support affected countries.\n\nThe report, \"No Time to Recover,\" highlights the risks of the compounding crises of energy, climate, and debt. Oil prices have risen above $100 a barrel since conflicts resumed in the Middle East. While emergency government measures have shielded up to 130 million of the world's poorest people from the full impact of high prices, many are now at risk as governments exhaust their fiscal resources.\n\nThe UNDP warns that the worst El Niño climate pattern in perhaps 1,000 years could cause widespread crop failures and increase the risk of extreme weather events. Simultaneously, the global bond sell-off is driving up government borrowing costs. Currently, the cost of bond financing for developing countries is 9%, considered \"really, really high.\" This trend is expected to worsen between now and the spring.\n\nDe Croo noted that none of the three crises currently show any signs of relief. He urged the international community to step up access to affordable finance for developing countries to support vulnerable households. While the UNDP does not oppose efforts to secure debt relief for the hardest-hit countries, De Croo emphasized the need for more urgent action and a coordinated policy for developing nations that provides \"time and space\" for necessary changes.",
  "summary": "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…",
  "key_points": [
    "UNDP warns triple shock from energy crisis, El Niño, high borrowing costs",
    "Oil prices above $100/barrel, emergency measures shield 130M poorest",
    "El Niño could cause crop failures, worsen global bond financing costs"
  ],
  "editors_take": "The UN's warning of a triple shock to developing nations means that tens to hundreds of millions of people are at risk of being pushed back into poverty without swift global action.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "People Daily Kenya",
        "title": "Developing nations face triple shock from energy crisis, El Niño and borrowing costs, UN warns",
        "url": "https://urgent.news/2026/10/11/developing-nations-face-triple-shock-from-energy-crisis-el-nino-and-13642780",
        "published": "2026-10-11T04:33:11.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}