UNDP chief poverty warning as Iran war drives up energy costs
The UNDP chief says energy price rises, an intense El Nino and higher interest rates could push millions into poverty. Vulnerable countries are being pushed to the brink.
The UN Development Programme chief warns that millions could be pushed into poverty by surging energy costs, an intense El Nino and higher interest rates.
Global fuel prices have risen since the United States launched a war on Iran in late February.
Iran's retaliation against US allies in the Gulf has curtailed major oil and natural gas supplies.
Fiscal deficits and debt-to-GDP ratios have grown worldwide since the 2008 global financial crisis.
The warning is about risk. The material available gives no new poverty figures and does not mention Pakistan.