Bangkok, October 15 (QNA) - Administrator of the United Nations Development Programme (UNDP) Alexander De Croo warned on Thursday that millions face poverty due to Middle East tensions, rising energy costs, severe El Nino climate impacts, and high interest rates.

De Croo said in statements that while many developing nations initially countered energy price shocks with broad support packages, compounding crises have exhausted their resources and limited their ability to sustain relief efforts. He noted that developing governments lacked sufficient time to rebuild fiscal reserves or resolve previous economic shocks before facing new ones.

The UN official highlighted South and East Asia, along with Sub-Saharan Africa, as the region’s most vulnerable to these economic shocks, adding that affected countries are confronted with successive crises and urgently require operational breathing room, time, and access to essential financing.

De Croo further warned that these mounting crises have restricted developing nations' access to essential capital while elevated interest rates worsen their debt-servicing burdens. (QNA)