Developing nations face triple shock from energy crisis, El Niño and borrowing costs, UN warns

People wade through flood water in Bangkok, Thailand, last month Photograph: Rungroj Yongrit/EPA

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 and global action”.