Developing countries could face a domino effect of financial distress

Reuters reports in The Economic Times that UNDP administrator Alexander De Croo warned of a domino effect that could push many developing countries into financial distress. He said UNDP surveys suggest the Iran war has become a crisis affecting approximately 100 countries. Rising energy and borrowing costs and El Niño are adding pressure; all 26 countries surveyed by UNDP judged that the worst was still to come.