{
  "id": 13642780,
  "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",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-11T04:33:11.000Z",
  "source": {
    "name": "People Daily Kenya",
    "slug": "people-daily-kenya",
    "url": "https://peopledaily.digital/news/developing-nations-face-triple-shock-from-energy-crisis-el-nino-and-borrowing-costs-un-warns"
  },
  "original_language": "en",
  "account": "The United Nations Development Programme (UNDP) has warned that developing nations are facing a triple crisis due to the energy crisis, El Niño and surging borrowing costs. UNDP Administrator Alexander De Croo called for solidarity and global action at the International Monetary Fund (IMF) and World Bank annual meetings in Bangkok. The UNDP's report, \"No Time to Recover,\" highlights the compounding risks of these crises, which are pushing millions of people back into poverty. Oil prices have surged back above $100 a barrel due to conflicts in the Middle East, and up to 130 million of the world's poorest people have received emergency government measures to cushion the impact, but many are now at risk as governments run out of resources. The worst El Niño climate pattern in a millennium is expected to cause widespread crop failures and extreme weather events, while high bond financing costs are also driving up government borrowing costs. The cost for bond financing for developing countries is currently 9%, and it is expected to worsen. Debt Justice, a campaign group, has found that low-income countries have cut education budgets by an average of 8% since 2019 and public spending by 2% due to high debt servicing costs. Debt Justice is calling for debt cancellation and an overhaul of the IMF-administered debt restructuring framework, urging the international community to provide more affordable financing for developing countries to support their vulnerable populations.",
  "summary": "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 […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Guardian Business",
        "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",
        "published": "2026-10-11T04:00:15.000Z"
      }
    ]
  },
  "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."
}