The United Nations Development Programme is warning that developing economies face a collision of higher energy costs, El Niño-related disruption and expensive borrowing. Ahead of international financial meetings, the agency said governments that previously protected an estimated 130 million people from energy-price spikes are losing fiscal room to respond. Borrowing costs around 9% are adding pressure just as climate-related crop losses threaten household budgets and food supply. The squeeze is especially consequential for countries already cutting education and public services to service debt. This is not simply a story about expensive oil: it is about the narrowing ability of governments to absorb simultaneous shocks. The Guardian reported the UNDP warning.