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UNDP Chief Warns 130 Million People Face Poverty Risk
Alexander De Croo, head of the United Nations Development Programme (UNDP), has warned that approximately 130 million people are at risk of falling into poverty this year. Speaking at the IMF and World Bank annual meetings in Bangkok, De Croo cited a combination of surging energy costs, high interest rates, and the El Niño climate phenomenon as primary drivers of this economic instability.
Global fuel prices have risen significantly following military conflict involving the United States and Iran, which has led to disruptions in oil and natural gas supplies. Many developing nations have attempted to mitigate these costs through blanket subsidies, but rising fiscal deficits and debt-to-GDP ratios—exacerbated by the pandemic and conflicts in Ukraine and the Middle East—have limited their ability to sustain such support.
In addition to energy shocks, rising international borrowing costs are straining national budgets. The UNDP reports that the average developing nation currently spends approximately 9.5 percent of its government revenue on debt interest payments. The IMF has also noted that while global growth remains stable, much of this resilience is tied to investments in artificial intelligence, potentially widening the gap between wealthy and developing nations.
Entities
Alexander De Croo · Bangkok · International Monetary Fund · Kristalina Georgieva · United Nations Development Programme · World Bank
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] IMF forecasts African economic growth at 4.5 percent this year. www.newsday.com
- [● 5 SOURCES] Surging energy costs, high interest rates, and El Niño are driving poverty risks. zhurnal.mk · fr.businessam.be · myrepublica.nagariknetwork.com · thefrontierpost.com · dailytimes.com.pk
- [● 2 SOURCES] The average developing country spends about 9.5 percent of government revenue on debt interest. zhurnal.mk · dailytimes.com.pk
- [● 4 SOURCES] Global fuel prices rose following military conflict between the US and Iran. zhurnal.mk · myrepublica.nagariknetwork.com · thefrontierpost.com · dailytimes.com.pk
- [● 3 SOURCES] Approximately 130 million people risk falling into poverty this year. zhurnal.mk · fr.businessam.be · dailytimes.com.pk
- [○ 1 SOURCE] Development assistance to Africa is forecast to fall by 12 percent this year. www.newsday.com