Belgian politician and businessman, UNDP administrator
The euro has fallen to near 17-month lows after investors have pushed up French borrowing costs and bond spreads. France has faced rising yields, mass protests and a political stalemate over deficit cuts ahead of the presidential election. Markets are pricing greater contagion risk across the eurozone and the ECB is under pressure to act.
The IMF and UN officials have warned at annual meetings in Bangkok that rising energy prices from the US–Iran war, the strongest El Niño on record and higher global interest rates have pushed low‑income, energy‑importing countries toward fiscal crisis. AI investment has bolstered rich economies while poorer nations are paying more of their revenue to service debt and losing fiscal space.
The UNDP reports that 37 million people in Myanmar are in or at risk of poverty, amounting to 68% of the population. Poverty, driven by conflict, displacement, and limited access to services, has deepened since the 2021 military takeover. The government cites instability and sanctions as economic headwinds.