UN development chief sounds alarm on growing poverty after Iran war shock

The head of the UN Development Programme, Alexander de Croo, issued a warning in Bangkok regarding the potential for millions of people to fall into poverty due to a combination of surging energy costs, the impact of the El Nino phenomenon, and rising interest rates. The statement highlights that vulnerable nations are currently facing significant instability caused by repeated global crises.

In response to these challenges, the UN development chief has called upon advanced economies and multilateral agencies to prioritize investments in economic growth, job creation, and long-term resilience within the developing world. The appeal emphasizes the need for structural support to mitigate the economic shock currently affecting global markets.